Managing Pension Funds in Zimbabwe： Ethical Issues and Challenges

This article is motivated by the predicament that hit pensioners in Zimbabwe following the introduction of the multi-currency system. Zimbabwe experienced economic woes which rendered the Zimbabwean dollar worthless and consequently necessitating a switch to stable currencies. The pension assets and liabilities were invested in the local currency before the currency reform, and the result of the multi-currency system was a mismatch of the assets and liabilities of the pension funds financial position which led to paltry pension benefits. The nature of pension funds places a great responsibility on the stakeholders who are involved in running these schemes and therefore ensuring that reasonable expectation by beneficiaries is met. The article focuses on the core aspects surrounding the structure and managing of pension funds in Zimbabwe. The researcher investigated the roles of important stakeholders in the Zimbabwean pension industry, namely, government, trustees, investment managers, and actuaries. The article further delves into the ethical issues and challenges faced by those managing Zimbabwean pension funds. The researcher conducted a total of 30 personal interviews to collect primary data from professionals in the Zimbabwean pension industry which were split as follows： 10 trustees, 10 investment managers, and 10 actuarial consultants. Secondary data were also used in this study and it comprised of journals, newspaper articles, investment reports, and textbooks. The researcher recommends that pension funds develop sound corporate governance mechanisms that will encourage the best ethical practices among all of their stakeholders. The findings provide evidence for a need to empower pension fund trustees through training and introduction of a pension protection scheme. In addition, the current regulatory system needs to be reviewed to capture the changing economic environment upon which pensions funds operate.

Bandwidth-enhanced dual-polarized antenna with improved broadband integrated balun and distributed parasitic element

A bandwidth-enhanced dual-polarized antenna is proposed for 2/3/4/5G applications,which is composed of distributed parasitic elements(DPEs),a main radiator,two improved broadband integrated baluns and a reflector.First,a novel tooth-shape shorted slot line in the improved broadband integrated balun is analyzed to adjust the input impedance of the antenna.Then,DPEs with 2×2 circular plates loading over the main radiator are proposed to improve broadband impedance matching and radiation pattern.By utilizing impedance compensation of the tooth-shaped shorted slot line and the electromagnetic induction of the DPEs,the antenna achieves an enhanced impedance bandwidth and a stable radiation pattern.To verify these ideas,the bandwidth-enhanced dual-polarized antenna was fabricated and measured.The experimental results indicate that the proposed antenna achieves an operating bandwidth of 72.2%(1.69 to 3.60 GHz)with a return loss(RL)less than-15 dB and a port-to-port isolation(ISO)larger than 30 dB.The antenna obtains a half-power beamwidth(HPBW)within(66±5)°and a gain within(9.0±0.6)dBi in the 2/3/4G bands,and an HPBW within(61.5±2.5)°and a gain within(9.8±0.3)dBi in the 5G band.Across the whole band,the cross-polarization discrimination(XPD)and the front-to-back ratio are both larger than 20 dB.

荷兰17世纪绘画对卡拉瓦乔艺术的借鉴和创新

意大利在17世纪对外国艺术家充满了吸引力。大量乌特勒支艺术家来到罗马这个天主教中心,巴布伦、特尔·布吕亨和洪特霍斯特都花了相当长的时间留在罗马。他们在这里进行了训练,同时也见证了卡拉瓦乔在绘画上的变革。卡拉瓦乔大胆引入了自然主义,并普及了明暗对照法来增强画中人物的情绪和精神状态。三位画家在不同程度上采用了卡拉瓦乔的风格和主题,并把它们带回荷兰,和他们的学生一起使它成为著名的乌特勒支卡拉瓦乔主义。