Essays about: "closed-end fund"

Showing result 1 - 5 of 12 essays containing the words closed-end fund.

  1. 1. Optimizing the Cash Reserve in a Portfolio of US Life Insurance Policies

    University essay from Linköpings universitet/Produktionsekonomi

    Author : Alva Happe; Wassim Seifeddine; [2022]
    Keywords : portfolio optimization; risk management; monte carlo; value at risk; life settlements; longevity risk; cash reserve; closed-end fund;

    Abstract : Hoarding a too large cash reserve is often unfavourable due to lost investment opportunities. Similarly, an insufficient cash reserve can be detrimental, as one might fail to meet payment obligations. Finding the optimal balance is nothing that is done in the blink of an eye, particularly when the underlying variable is stochastic, e.g. READ MORE

  2. 2. Listed Property Company Valuation

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Marcus Runström; Ludvig Eksandh; [2022]
    Keywords : Listed Swedish property companies; Closed-end fund puzzle; Noise trader model; NAV premium and discount; Property company valuation;

    Abstract : Among stock market participants, the existence and persistence of deviations between a property company's market capitalization and Net Asset Value are well-recognized. This deviation has a clear link to the premiums and discounts to NAV of closed-end funds, which is referred to as the closed-end fund puzzle in financial economics. READ MORE

  3. 3. Closed-End Funds and their Net Asset Value over time : A study of the relationship between Swedish closed-end funds' market prices and their underlying assets over a period of time.

    University essay from Jönköping University/IHH, Nationalekonomi; Jönköping University/IHH, Nationalekonomi

    Author : Erik Cederberg; Linus Schnitzer; [2020]
    Keywords : Closed-end fund; Net Asset Value; Mean Reversion; Closed-end fund discount; Stock market; Investment strategy; Cointegration; Error Correction;

    Abstract : Closed-end funds (CEFs) are popular investments amongst the Swedish population as they provide diversification to investors and have in many cases historically outperformed the market. In deciding whether to invest in a CEF, the method of valuation differs from classical financial ratios used to value most companies, as the revenue-bringing operations differ significantly. READ MORE

  4. 4. Explaining the NAV Discount in REIT pricing - Evidence from the U.S.

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Jerry Aaltonen; Bowen Li; [2019]
    Keywords : REITs; Dynamic relationship; NAV discount; Closed-end fund puzzle; United States;

    Abstract : This paper investigates the relationship between stock price and net asset value (NAV) for 71 real estate investment trusts (REITs) in the U.S. between Q1/1998 and Q4/2018. More specifically, by testing for cointegration, we look for evidence of a long-term equilibrium between stock price and NAV. READ MORE

  5. 5. The Closed-End Investment Company NAV Deviation Puzzle: What does the Industry Reveal?

    University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Author : Max Odqvist; Jesper Warén; [2017]
    Keywords : NAV; NAV Deviations; Investment Company; Closed-End Fund;

    Abstract : This study of net asset value deviations ("NAV deviations") is conducted with a qualitative method to find explanations for NAV deviations by testing the entrenchment of current theories in Swedish investment companies. The study was conducted through a total of 15 interviews with representatives from investment companies, equity research analysts and fund managers. READ MORE