Should Defined Contribution Plans Include Private Equity Investments?

Autor:	Gregory W. Brown, Keith J. Crouch, Andra Ghent, Robert S. Harris, Yael V. Hochberg, Tim Jenkinson, Steven N. Kaplan, Richard Maxwell, David T. Robinson
Rok vydání:	2022
Předmět:	Economics and Econometrics Accounting Finance
Zdroj:	Financial Analysts Journal. 78:5-17
ISSN:	1938-3312 0015-198X
DOI:	10.1080/0015198x.2022.2093604
Popis:	This paper evaluates the pros and cons of including private equity fund investments in defined contribution plans. Potential benefits include higher returns and improved diversification as well as a relatively safe method for accessing investments previously only available to institutions and the very wealthy. Despite these enticing benefits, they need to be weighed against potential challenges and costs that may arise from creating this broader access to private funds. The complicated structure and uncertainty around the mechanism to provide required liquidity backstops may bring increased fees or even disrupt the private fund model.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::791765de0a1515dd1752da8085022c49 https://doi.org/10.1080/0015198x.2022.2093604 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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