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Performance des investisseurs institutionnels britanniques : Fonds de pension vs Unit Trusts

Author

Listed:
  • Kamel Laaradh

    (LEO - Laboratoire d'économie d'Orleans [2008-2011] - UO - Université d'Orléans - CNRS - Centre National de la Recherche Scientifique)

Abstract

A pension fund in an autonomous financial institution in charge to manage the saving resulting from the system of retirement by capitalization. Its objective is to guarantee an income for life and to revalorize retirements supplementing the legal and obligatory pension plans. Capitalization subjects to generally become to it retirements with the law of the market of the placements (equities, bonds, real estate). From where utility to study the performance of this type of investor compared to the market on which it is placed.This article focuses to valorise the performance of UK pension funds over the period February 1990 - February 2005. To be done, we will carry out a comparison simultaneous between this performance and conditional models (Ferson and Schadt, 1996 and Christopherson, Ferson and Glassman 1998a and b.). In addition, we compare this performance with that obtained by UK Unit Trusts of the same specificity.

Suggested Citation

  • Kamel Laaradh, 2005. "Performance des investisseurs institutionnels britanniques : Fonds de pension vs Unit Trusts," Post-Print halshs-00007687, HAL.
    • Handle: RePEc:hal:journl:halshs-00007687
    as

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