A Theory of Mutual Funds: Optimal Fund Objectives and Industry Organization
A Theory of Mutual Funds: Optimal Fund Objectives and Industry Organization
Though some pension funds – mostly larger, more sophisticated investors - are able to invest at the riskier end of the spectrum (i.e. in start-up, venture capital type projects focusing on clean tech and other innovations), this will only ever constitute a small percentage of their portfolios. The broad mass of pension funds will be more interested in lower risk investments (i.e. in deployable renewables etc.), which provide a steady, inflation adjusted, income stream – particularly where invest