This paper examines the role of guarantees in DC pension plans, in particular minimum investment return guarantees during the accumulation phase. The main goal is to assess the cost and benefits of different return guarantees. The report uses a stochastic financial market model where guarantee claims are calculated as a financial derivative in a financial market framework (like e.g. the valuation of a put option). In this context, the
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This article underlines the need for long-term investors to finance growth and the need to create instruments better suited to their needs, particularly in the context of the recent regulatory changes.
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This article explains the European Investment Bank Group’s role in creating a better environment for financing business, innovation and green growth and provides examples of ways that the financing of innovation can be improved against the backdrop of a flexible, business-oriented EU framework.<
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This article discusses selected issues regarding the impact of protracted periods of low interest rates on pension funds and insurance companies.
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Infrastructure investments could be the “perfect match” for a portion of pension savings. This article contends that link between the capital at hand and its accessibility for infrastructure investments needs to be improved.
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This article discusses how to mobilise more institutional equity into infrastructure. If the regulatory and investment framework is right, more institutional money can be invested in infrastructure to deliver the high levels of capital expenditure needed.
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Mobilising private sector funding is essential in bridging the infrastructure funding gap. Stable and accessible programmes of infrastructure projects and public-private partnerships (PPPs) are key in attracting private sector investors, complemented by adequate regulation.
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This article explores the resiliency and development of the asset management industry, why it has recovered well from the crisis, how it fosters economic growth and the vehicles for long-term retail investment that need to be developed.
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This article discusses the new “investment culture” and the benefits of long-term investing for growth, sustainable development and financial stability, and regulatory and other barriers that impede such investment.
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One of the lessons learned from the last financial crisis is the underpricing of risk and lack of transparency drove the dynamics of the financial crisis. Challenging tasks ahead include improving governance and reducing excessive risk-taking and transparent remuneration plans.