TERMIUM Plus®

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IMMUNIZATION INVESTMENT STRATEGY [2 records]

Record 1 1987-09-22

English

Subject field(s)
  • Investment
  • Social Security and Employment Insurance
  • Employment Benefits
CONT

So-called "immunization" investment strategies (for example, the purchase by the pension fund of high-quality bonds with future cash flows that match expected pension cash outflows) would not qualify [as an effective partial settlement of a pension plan].

French

Domaine(s)
  • Investissements et placements
  • Sécurité sociale et assurance-emploi
  • Avantages sociaux

Spanish

Save record 1

Record 2 1987-09-03

English

Subject field(s)
  • Investment
  • Taxation
CONT

The relationship between an immunization strategy, a maxmin strategy, and a duration strategy in a market in which investment income is subject to tax and investors are in more than one tax bracket is reexamined. The exact assumptions necessary for the duration strategy and the maxmin strategy to be equivalent in a world with taxes are clarified. In a world with taxes, the immunization strategy requires the portfolio to satisfy a constraint concerning the bond to be included besides the duration restriction.

French

Domaine(s)
  • Investissements et placements
  • Fiscalité

Spanish

Save record 2

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