Global Financial Stability Report, September 2005: Aspects of Global Asset Allocation

Global Financial Stability Report, September 30, 2005

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Global Financial Stability Report, September 2005: Aspects of Global Asset Allocation

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Bibliographic details

• Published: September 30, 2005
• Series: Global Financial Stability Report
• DOI: https://doi.org/10.5089/9781451969535.082

Overview

• This paper analyzes aspects of global asset allocation.
• It examines how "different institutional investors follow vastly different procedures when allocating assets, reflecting various time horizons, liability structures, and 'cultural backgrounds.'"
• The paper aims to provide insight into the decision-making process of investors and highlights that understanding the basis for investor decisions is useful when analyzing their asset allocation decisions and related capital flows across borders and asset classes.
• The paper also discusses the implications for financial stability of proposals and potential changes in accounting policy.

Main findings

• Institutional investors display heterogeneous asset allocation procedures driven by:
  • time horizons
  • liability structures
  • "cultural backgrounds"
• Understanding investor decision-making is important for analyzing:
  • asset allocation decisions
  • related capital flows across borders
  • related capital flows across asset classes
• The paper explores potential effects on financial stability stemming from proposals and potential changes in accounting policy.

Implications for financial stability and policy considerations

• Changes in accounting policy and related proposals are discussed with respect to their implications for financial stability.
• Insights into investor decision-making can inform assessments of cross-border capital flows and shifts across asset classes that may affect market stability.

Subjects and keywords (as listed)

• Subject: Asset allocation, Asset and liability management, Expenditure, Financial institutions, Hedge funds, Insurance companies, Mutual funds, Pension spending
• Keywords: acceptance ratio, accounting profession, Asia and Pacific, Asset allocation, asset allocation strategy, asset class, asset gatherer, asset management research centre, Caribbean, Europe, fair value, financial instrument accounting, GFSR, Global, Hedge funds, Insurance companies, investment product, investor group, liability study, Mutual funds, nonbank asset gatherer, pension accounting, Pension spending, plan investment option, portfolio manager, private equity, world Economic

References

• https://www.imf.org/en/publications/gfsr
• United States and the IMF
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• Asset allocation
• Asset and liability management
• Expenditure
• Financial institutions
• Hedge funds
• Insurance companies
• Mutual funds
• Pension spending
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