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dc.contributor.authorRepstad, Pål Jacob
dc.contributor.authorSyltøy, Kenneth
dc.date.accessioned2019-11-04T07:28:47Z
dc.date.available2019-11-04T07:28:47Z
dc.date.issued2019
dc.identifier.urihttp://hdl.handle.net/11250/2626240
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019nb_NO
dc.description.abstractThe motivation behind this paper is to identify how important market movements, asset allocation policy and active management is for the Norwegian, Canadian and Japanese government pension funds’ returns. We use data from the funds’ financial reports to examine this importance in terms of variance, and further estimate how each fund’s active management contributes value to returns. Our results are in line with previous literature, namely that market movements explain the bulk of the variance in returns. Further, asset allocation policy and active management explain about the same amount. We also find evidence suggesting that two of three funds add value through their active management.nb_NO
dc.language.isoengnb_NO
dc.publisherHandelshøyskolen BInb_NO
dc.subjectfinansnb_NO
dc.subjectfinancenb_NO
dc.titleThe importance of market movements, asset allocation policy and active management for government pension funds – evidence from GPFG, CPP and GPIFnb_NO
dc.typeMaster thesisnb_NO


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