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Alternative Investments - Opportunities and Challenges to Capital Pension Funds

Author

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  • Ivanka Daneva

    (New Bulgarian University, Sofia, Bulgaria)

Abstract

The paper examines contemporary aspects of investments in alternative investments in the portfolio of capital funded pension funds. They characterize the benefits of alternative investments and outline possible forms of investment in infrastructure projects. Emphasis is placed on the specifics of risks in infrastructure investments and their classification. There is a place for the regulations and practices of the pension funds to invest in alternative assets, incl. in infrastructure projects through a range of classes of financial instruments. The review of the legislation in force in our country outlines guidelines for changes in the investment restrictions on the introduction of portfolios with different risk profiles for pension funds while simultaneously creating suitable domestic financial instruments for investment in infrastructure projects.

Suggested Citation

  • Ivanka Daneva, 2019. "Alternative Investments - Opportunities and Challenges to Capital Pension Funds," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 5, pages 281-293, December.
    • Handle: RePEc:nwe:natrud:y:2019:i:5:p:281-293
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/10219
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    More about this item

    Keywords

    capital pension insurance; pension funds; alternative investments; infrastructure projects; risks;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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