Inbertsio-politika

Ondarearen banaketa aktibo motaren arabera

Gizarte aldetik arduratsua den inbertsioa

Ondarearen banaketa aktibo motaren arabera

Sistema kapitalizatuetan, pentsioaren azken balioa neurri handi batean bazkideen ekarpenak erabiliz egindako inbertsiotik lortzen den errentagarritasunak ezartzen du. Hortaz, inbertsio-politika edo aktiboen ezarpen estrategikoa da garrantzitsuena. Gainera, pentsio-funtsen kasuan, aktiboen inbertsioek bat etorri behar dute pasiboen edo pentsio-konpromisoen ezaugarriekin, eta horrek konplexuago bihurtzen du inbertsioen kudeaketa.

(Berria) OCDE. (2008). "Survey of Investment Regulations of Pension Funds".

Weller C. and Wenger J. National Institute on Retirement Security. (USA). (2008). "In it for the Long Haul. The Investment Behaviour of Public Pensions"

Vittas D., Impavido G. and  O'Connor D. (The World Bank). (2008). "Upgrading the investment policy framework of Public Pension Funds"

Malliaris A. and Malliaris M. (2007). "Investment Principles for Individual Retirement Accounts".

Bikker J., Broeders D. and de Dreu J. (DNB. De Netherlandsche Bank) (2007). "Stock market performance and pension fund investment policy: rebalancing, free float or market timing?"

NAPF. National Association of Pension Funds .(UK). (2007). "Institutional Investment in the UK: six years on. Report and recommendations".

USA Social Security Administration. (USA). (2007).  "Portfolio Theory, Life-Cycle Investing, and Retirement Income"

Viceira L.M. (Harvard Business School). (2007).  "Life-Cycle Funds"

Bodie Z. and Treussard J. (Boston University). (2007). "Making Investment Choices as Simple as Possible: An Analysis of Target Date Retirement Funds".

Marathon Club. (2007). "Guidance Note for Long-Term Investing"

Suárez J.L. y Hernández R. (IESE. Universidad de Navarra). (2006). "Políticas de inversión del sector de seguros y de pensiones en la Unión Europea : inversión en inmuebles".

Rice M. and Strotman G. (DiMeo Schneider and Associates). (2007) "The Next Chapter in the Active vs. Passive Management Debate. An analysis of manager performance, consistency, and persistency".

 

Gizarte aldetik arduratsua den inbertsioa

Azken boladan pentsio-sistemei gero eta gehiago eskatzen zaie inbertsioak aukeratzeko unean sozialki arduratsuak izan daitezela, bazkideen artean eta oro har jendearen artean ospe ona izateko. Ondorioz, ondarea zein aktibotan inbertitu aukeratzeko garaian ingurumen-irizpideak, gizarte arlokoak eta zuzendaritza egokia erabili eta kontuan hartu behar dira.

(Berria) Novethic. (2008). "First annual conference for institutional investors: Integrating Environmental, Social and Governance factors in your Investment Practices" 

 Responsible Investor and Insight Investment. (2008). "Responsible Investment: Reading List"

Naciones Unidas. (2008). "El Pacto Mundial" 

Responsible Investor. (2008). "Thematic investment"

VB. The Dutch Association of Industry-wide Pension Funds. (2008). "Dutch pension funds and the practice of responsible investment"

Hesse A. Swisscanto. (Suiza) (2007)."Sustainable investments in pension funds. International comparison"

VB (Asociación de sistemas de pensiones sectoriales de Holanda). (2007). "Consideraciones en torno a los intereses sociales y la transparencia en el proceso de inversión. Los dilemas de la sociedad son también nuestros dilemas".

UK Social Investment Forum (UKSIF) and United Nations Environment Programme Finance Initiative (UNEP FI). (2007). "Responsible investment in focus: How leading public pension funds are meeting the challenge".