Combining investment advice and asset management

被引：0
|
作者：
Hlobil, T. M. [1 ]
van Leuvensteijn, M. [1 ]
机构：
[1] Netherlands Author Consumers & Markets, The Hague, Netherlands
来源：
ECONOMICS LETTERS | 2020年 / 197卷
关键词：
Pension funds; Investment advice; Asset management; Agency costs; ECONOMIES; SCALE;
D O I：
10.1016/j.econlet.2020.109627
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Dutch pension funds often hire investment consultants to give advice on how to invest the retirement contributions of their participants and to manage these investments. Combining investment advice with asset management has potential benefits for pension funds: lower prices for asset management that is tailored to investment advice. But there are also agency costs to consider. Investment consultants know more than investors do. Will investment consultants not tailor their advice to sell their asset management services? This article uses a regulatory dataset on Dutch pension funds to explore this question. (C) 2020 Elsevier B.V. All rights reserved.
引用
收藏
页数：3
相关论文
共 50 条
  • [21] A generic asset management framework for optimising maintenance investment decision
    Tam, Allen S. B.
    Price, John W. H.
    [J]. PRODUCTION PLANNING & CONTROL, 2008, 19 (04) : 287 - 300
  • [22] Dynamic Asset Liability Management A Method for Optimising Investment Strategy
    Aldo Balestreri
    Jeremy Kent
    Ed Morgan
    [J]. European Actuarial Journal, 2011, 1 (Suppl 1) : 29 - 46
  • [23] THE PROBLEMS with investment advice
    Valentine, Tom
    [J]. JASSA-THE FINSIA JOURNAL OF APPLIED FINANCE, 2013, (04): : 42 - 46
  • [24] Is conflicted investment advice better than no advice?
    Chalmers, John
    Reuter, Jonathan
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2020, 138 (02) : 366 - 387
  • [25] Study on Advanced Maintenance Strategies and Asset Management for Substation Equipment in Japan: Survey on Asset Management Methods for Strategic Investment Judgments
    Aono, Norihiko
    Tsuboi, Kiyohiro
    Saeki, Ryo
    Kinugasa, Takuichi
    Ojio, Naoya
    Takahashi, Tsuguhiro
    Sugiyama, Hironori
    Kitayama, Masashi
    Onishi, Tsukasa
    [J]. 2022 9th International Conference on Condition Monitoring and Diagnosis, CMD 2022, 2022, : 51 - 55
  • [26] A robust asset-liability management framework for investment products with guarantees
    Gulpinar, Nalan
    Pachamanova, Dessislava
    Canakoglu, Ethem
    [J]. OR SPECTRUM, 2016, 38 (04) : 1007 - 1041
  • [27] Asset and liability management/liability-driven investment for pension funds
    Mitra, Gautam
    Medova, Elena
    [J]. JOURNAL OF ASSET MANAGEMENT, 2010, 11 (2-3) : 71 - 72
  • [28] AN ACTIVE ASSET MANAGEMENT INVESTMENT PROCESS FOR DRAWDOWN-AVERSE INVESTORS
    Reveiz-Herault, Alejandro
    [J]. INTELLIGENT SYSTEMS IN ACCOUNTING FINANCE & MANAGEMENT, 2016, 23 (1-2): : 85 - 96
  • [29] Asset and liability management/liability-driven investment for pension funds
    Gautam Mitra
    Elena Medova
    [J]. Journal of Asset Management, 2010, 11 (2-3) : 71 - 72
  • [30] Asset prices and real investment
    Kogan, L
    [J]. JOURNAL OF FINANCIAL ECONOMICS, 2004, 73 (03) : 411 - 431
12345