Some recent literature studies whether contracts including financial guarantees can be
preferred by a utility-maximizing investor. The main result for contracts exposed solely to …

The core idea of life-cycle funds or target-date funds is to decrease the fund's equity
exposure and conversely increase its bond exposure towards the fund's target date. Such …

In this paper, we characterize dynamic investment strategies that are consistent with the
expected utility setting and more generally with the forward utility setting. Two popular …

В статье раскрыты причины низкой эффективности инвестиционной деятельности
управляющих пенсионными накоплениями и сформулированы правила пенсионного …

Traditional participating life insurance contracts with year-to-year (cliquet-style) guarantees
have come under pressure in the current situation of low interest rates and volatile capital …

This chapter provides an overview of new life insurance financial products. After a general
market overview, Sect. 36.2 presents different forms of traditional and innovative life …

In a typical equity-linked life insurance contract, the insurance company is entitled to a share
of return surpluses as compensation for the return guarantee granted to the policyholders …

Life‐cycle (or target‐date) funds are funds, which typically decrease their risk exposure over
time. They have been very successful in many countries, particularly in the segment of old …

The returns and risks of investment portfolio in a financial system was investigated by
constructing a theoretical model based on the Heston model. After the theoretical model and …

This article examines reasons for the low efficiency of investment activity by pension asset
managers, and pension investment rules are formulated. These rules are based on the …