Article Abstract:
The emerging popularity of pension fund indicates its importance in international financial markets. From 1990-1996, pension funds manifested an annual growth rate of 10.9% although the figures remain variable among OECD countries. The aging populations also highlight the important role played by pension funds. There is a considerable shift in the investment allocation of the funds towards higher-yielding but riskier assets. The pension fund growth contributes to the increasing demand for professional management services.
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Article Abstract:
The value of market pricing worsened when the euro was introduced in the EU government bond markets. The yield spreads on German bonds broadened as the government's 10-year bond yield declined below 4%. Also, the bond spreads' widening were technically exaggerated and the five-year bond's yield differentials disappeared in the euro area. Moreover, existing restrictions on institutional investors are expected to disappear.
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Article Abstract:
Several developments highlighted the performance of international financial markets in the first three qtrs. of 1996. Organization for Economic Cooperation countries financed a huge portion of global financing activity. The period saw an increase in the amount of bond offerings. Southern American countries dominated the bond market with the release of $21 million worth of bonds.
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