Amazon Fund: financing deforestation avoidance

The Amazon Fund, created in 2008 by the Brazilian Federal Government, is managed by Banco Nacional de Desenvolvimento Econômico e Social (BNDES). It is a pioneering initiative to fundraise and manage financial resources to cut back deforestation and support sustainable development for 30 million inhabitants in the Amazon Biome. The Amazon Fund has already received more than R$ 1.7 billion in grants (about USD 787 million). This essay analyzes the Amazon Fund's governance and management with focus on its operation and from its stakeholders' perspectives. A combination of research methods includes: documental research, in-depth interviews, and speech analysis. The study offers a comparative analysis of strengths and weaknesses related to its governance. Furthermore, it proposes ways to improve its management towards greater effectiveness. The essay also includes an assessment of the government of Norway, a major donor to the fund. The governments of Norway and Germany, in partnership with Brazil, reveal how important it is to experiment with new means of international cooperation to successfully reduce greenhouse gas emissions through rainforest preservation.

Behavioral aspects of investment fund's markets: are good managers lucky or skilled?

It is generally accepted that financial markets are efficient in the long run a lthough there may be some deviations in the short run. It is also accepted that a good portfolio manager is the one who beats the market persistently along time, this type of manager could not exist if markets were perfectly efficient According to this in a pure efficient market we should find that managers know that they can not beat the market so they would undertake only pure passive management strategies. Assuming a certain degree of inefficiency in the short run, a market may show some managers who tr y to beat the market by undertaking active strategies. From Fama’s efficient markets theory we can state that these active managers may beat the market occasionally although they will not be able to enhance significantly their performance in the long run. On the other hand, in an inefficient market it would be expected to find a higher level of activity related with the higher probability of beating the market. In this paper we follow two objectives: first, we set a basis to analyse the level of efficiency in an asset invest- ment funds market by measuring performance, strategies activity and it’s persistence for a certain group of funds during the period of study. Second, we analyse individual performance persistence in order to determine the existence of skilled managers. The CAPM model is taken as theoretical background and the use of the Sharpe’s ratio as a suitable performance measure in a limited information environment leads to a group performance measurement proposal. The empiri- cal study takes quarterly data from 1999-2007 period, for the whole population of the Spanish asset investment funds market, provided by the CNMV (Comisión Nacional del Mercado de Valores). This period of study has been chosen to ensure a wide enough range of efficient market observation so it would allow us to set a proper basis to compare with the following period. As a result we develop a model that allows us to measure efficiency in a given asset mutual funds market, based on the level of strategy’s activity undertaken by managers. We also observe persistence in individual performance for a certain group of funds

Portafolio selection with skewness: a comparison of methods and a generalized two fund separation result

This contribution compares existing and newly developed techniques for geometrically representing mean-variances-kewness portfolio frontiers based on the rather widely adapted methodology of polynomial goal programming (PGP) on the one hand and the more recent approach based on the shortage function on the other hand. Moreover, we explain the working of these different methodologies in detail and provide graphical illustrations. Inspired by these illustrations, we prove a generalization of the well-known two fund separation theorem from traditionalmean-variance portfolio theory.

Status Report Of The UI Trust Fund, 2001

Status report of UI Trust Fund for Iowa Workforce Development

Status Report Of The UI Trust Fund, 2002

Status report On the Iowa Unemployment Compensation Trust Fund for Iowa Workforce Development

FY 2003 Revolving Fund Purchase Order Report, Iowa Department of Transportation, 2003

Report written by Iowa DOT to Auditor Office about revolving fund purchase order.

FY 2002 Revolving Fund Purchase Order Report, 2002

Revolving fund for Iowa Department of Transportation.

Biodiesel Fuel Revolving Fund Expenditures, Iowa Department of Transportation, January 2003

Biodiesel Fuel Revolving Fund Expenditures for Iowa Department of Transportation

Review of Alternative Distribution Methodologies for the Street Construction Fund of the Cities, December 26, 2003

Review of Alternative Distribution Methodologies for the Street Construction Fund of the Cities

Biodiesel Fuel Revolving Fund Expenditures Fiscal Year 2003 Report, Iowa Department of Transportation, January 2004

Report of expenditures from the biodiesel fuel revolving fund for biodiesel fuel used in Iowa Department of Transportation vehicles.

Evaluation of the State Highway System and Road Use Tax Fund (RUTF), 2003

This report was prepared by a committee of city, county and state representatives. The committee met throughout 2002 with the purpose of reviewing and making recommendations to improve the efficiency and operation of Iowa's road and street system. This report is referenced in SF 451 and in Code Section 306.8A.

Iowa Juvenile Crime Prevention Community Grant Fund Outcomes Report and FY 2002 Juvenile Justice Youth Development Program Summary, 2002

This document contains two related, but separate reports. The Juvenile Crime Prevention Community Grant Fund Outcomes Report is a summary of outcomes from services and activities funded through the Juvenile Crime Prevention Community Grant Fund in FY2001. The Juvenile Justice Youth Development Program Summary describes Iowa communities current prevention and sanction programs supported with funding from the Division of Criminal and Juvenile Justice Planning (CJJP) during FY2002.

Juvenile Crime Prevention Community Grant Fund Outcomes Report and FY 2002 Juvenile Justice Youth Development Program Summary, 2002

This document contains two related, but separate reports. The Juvenile Crime Prevention Community Grant Fund Outcomes Report is a summary of outcomes from services and activities funded through the Juvenile Crime Prevention Community Grant Fund in FY 2001. The Juvenile Justice Youth Development Program Summary describes Iowa communities’ current prevention and sanction programs supported with funding from the Division of Criminal and Juvenile Justice Planning (CJJP) during FY 2002.

Iowa Juvenile Crime Prevention Community Grant Fund, 2000

The Division of Criminal & Juvenile Justice Planning, as a part of its duties to administer Iowa’s Juvenile Crime Prevention Community Grant Fund, compiled the information contained in this report. Persons involved in the preparation of this report include Eric Sage, Sonya Wendell, and Richard Moore. Much of the report’s descriptions of community projects was adapted from narrative information contained in the applications and progress reports of agencies and units of government throughout the state that are participating in the Juvenile Crime Prevention Community Grant Fund.

Iowa Juvenile Crime Prevention Community Grant Fund Outcomes Report, 2000

The following Outcome Reports are derived from the Iowa Juvenile Crime Prevention Community Grant Fund 1999-2000 Report compiled by the Division of Criminal and Juvenile Justice Planning, Department of Human Rights. The report includes background information on the Community Grant Fund and more detailed information on the individual community programs (community collaboration, program overview, contact information, and budget).