The article examines the effects of the current market volatility on the management of investment funds, trying to clarify the effects produced by the main risk parameters (namely, VaR and benchmark) on the investment policy adopted by the fund by reason of the relative management mandate received from the investors. In particular, the analysis aims to shed light on the legal value of the risk parameters, paying particular attention to the consistency between the parameters and the fund’s investment policy.

Volatilità e gestione collettiva: riflessioni sul rapporto tra indici di rischiosità (benchmark e VaR) e politica di investimento

Andrea Minto
2022

Abstract

The article examines the effects of the current market volatility on the management of investment funds, trying to clarify the effects produced by the main risk parameters (namely, VaR and benchmark) on the investment policy adopted by the fund by reason of the relative management mandate received from the investors. In particular, the analysis aims to shed light on the legal value of the risk parameters, paying particular attention to the consistency between the parameters and the fund’s investment policy.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10278/5002476
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