tailieunhanh - Pension Fund Indicators 2012 A long-term perspective on pension fund investment

into forward currency contracts for hedging purposes which can include the hedging of all or a portion of the currency exposure of an investment or group of investments, either directly or indirectly. The Fund may also enter into these contracts for non-hedging purposes which can include increasing the exposure to a foreign currency or to shift exposure to foreign currency fluctuations from one country to another. The value of forward currency contracts entered into by the Fund is recorded as the difference between the value of the contract on the Valuation Date and the value on the date the contract originated. Changes in the value of open forward currency contracts at each Valuation. | UBS Asset Management For Professional Clients only Pension Fund Indicators 2012 A long-term perspective on pension fund investment. Pension Fund Indicators 2012 Production editor and enquiries Ben Lloyd telephone 020 7901 6263 Media enquiries Telephone 020 7568 9982 Contributors Agnes Bartha Performance measurement and data Ben Lloyd UK pension assets Asset allocation and Alternative sources of return Bernard Hunter Bonds Bronte Somes Infrastructure and Private Equity Dan Edelman Hedge Funds David Roberts Real Estate Ian Barnes Current thinking in UK pensions Ian Howard Performance measurement and data James Collyer Equities Kevin Barker Equities Liz Troni Real Estate Mark Deans Risk measurement and Derivatives Matt Bance Global tactical asset allocation and Currency Neil Olympio Asset allocation in the presence of liabilities Paul Moy Infrastructure and Private Equity Stephan Schnuerer Infrastructure and Private Equity Uta Fehm Bonds UBS 2012. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. July 2012. Crown copyright material sourced as National Statistics is reproduced under the terms of the Open Government Licence from HMSO National Archives. While every care has been taken in the compilation of the data in this book neither UBS Global Asset Management UK Ltd nor any of the other data sources quoted will be liable for any consequences arising from the inclusion of inaccurate data. Some historic data may no longer be available from the original sources but is reproduced from earlier editions of Pension Fund Indicators. Pension Fund Indicators 2012 Foreword Our aim with Pension Fund Indicators is to deliver to our readership an objective and educational source of investment data and practical explanations covering the range of investments available to pension funds and the various techniques for combining them. In this Olympic and Diamond Jubilee year it is with great pleasure that we celebrate a milestone