Hedge Funds in Superannuation Portfolios: Are the Returns Worth the Risks? In recent years superannuation funds have delivered negative returns to members due to poorly performing stockmarkets. In striving to achieve higher rates of return, superannuation trustees have commenced allocating retirement savings to a new type of investment opportunity, termed hedge funds. There is a paucity of research about this new type of investment, particularly relating to the non-linear nature of hedge funds ....Hedge Funds in Superannuation Portfolios: Are the Returns Worth the Risks? In recent years superannuation funds have delivered negative returns to members due to poorly performing stockmarkets. In striving to achieve higher rates of return, superannuation trustees have commenced allocating retirement savings to a new type of investment opportunity, termed hedge funds. There is a paucity of research about this new type of investment, particularly relating to the non-linear nature of hedge funds returns. This study will investigate the risk and return trade-off of including hedge funds in superannuation portfolios and provide trustees with empirical tools to determine the optimal allocation to hedge funds.Read moreRead less
The contribution of the private equity and venture capital industry to the Australian economy and society. This study enables the priority goal of promoting an innovation culture and economy through research, by assessing the contribution of private equity investment in dynamic firms and evaluating industry practices. It guides the industry body (AVCAL) and the Government in formulating private equity and venture capital policy and initiatives to stimulate innovation and success in the Australia ....The contribution of the private equity and venture capital industry to the Australian economy and society. This study enables the priority goal of promoting an innovation culture and economy through research, by assessing the contribution of private equity investment in dynamic firms and evaluating industry practices. It guides the industry body (AVCAL) and the Government in formulating private equity and venture capital policy and initiatives to stimulate innovation and success in the Australian economy. The results allow the assessment of the success of the government programs and assists the private equity industry in quantifying its effectiveness in stimulating economic growth. Further, the study assists entrepreneurial firms developing innovative concepts, in understanding the benefits of seeking venture capital support in Australia.Read moreRead less
Liquidity Measurement and Risk Management in the Australian Insurance Industry. The APRA draft guidelines require Australian insurance companies to implement a liquidity risk management strategy without providing details of an acceptable level of liquidity risk, nor how liquidity is to be measured. The aim of this study is to address the issue of how to measure liquidity and to provide a framework in which a liquidity risk management policy may be established which benchmarks the proposed measu ....Liquidity Measurement and Risk Management in the Australian Insurance Industry. The APRA draft guidelines require Australian insurance companies to implement a liquidity risk management strategy without providing details of an acceptable level of liquidity risk, nor how liquidity is to be measured. The aim of this study is to address the issue of how to measure liquidity and to provide a framework in which a liquidity risk management policy may be established which benchmarks the proposed measure of liquidity. This research may be expected to lead the policy debate in Australia as to how insurance companies may satisfy the APRA guidelines.Read moreRead less
Risk and Prudential Regulation and Supervision of Australian Financial Institutions. The project seeks to enhance the effectiveness of prudential regulation and supervision of financial institutions (FIs) by examining the risk of FIs, as reflected in default risk premiums on FI international debt issues and variability of revenue/profitability measures, and the effect of broadening FI activities and the shift towards fee/commission income on FI risk. This forms the basis for the development and ....Risk and Prudential Regulation and Supervision of Australian Financial Institutions. The project seeks to enhance the effectiveness of prudential regulation and supervision of financial institutions (FIs) by examining the risk of FIs, as reflected in default risk premiums on FI international debt issues and variability of revenue/profitability measures, and the effect of broadening FI activities and the shift towards fee/commission income on FI risk. This forms the basis for the development and testing of statistical early warning systems of impending financial problems in Australian FIs. The models are compared with examiner rating systems currently used in prudential supervision.Read moreRead less
Religion, Finance and Ethics: Islamic and conventional perspectives on shared principles, practices, and financial institutions and instruments. By linking together specialists in finance, banking and religious history, with the Muslim Community Cooperative (Australia), this project explores communication and mutual benefit between international Islamic finance and conventional Western finance. It will propose new financial structures and instruments to expand the scope of Islamic finance, to m ....Religion, Finance and Ethics: Islamic and conventional perspectives on shared principles, practices, and financial institutions and instruments. By linking together specialists in finance, banking and religious history, with the Muslim Community Cooperative (Australia), this project explores communication and mutual benefit between international Islamic finance and conventional Western finance. It will propose new financial structures and instruments to expand the scope of Islamic finance, to maximise lending and investment opportunities in Australia, and to promote interaction between the Islamic and conventional financial sectors. The project will enable Australian researchers to work with international authorities in Islamic finance, promoting dialogue between Islamic and other groups, and increase investment and development within the Australian financial market.Read moreRead less