volume 1, issue 4, P603-688 1995
DOI: 10.1017/s1357321700001276
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P.D. Needleman, T.A. Roff

Abstract: ABSTRACTThis paper describes current asset share techniques, examines alternative asset share philosophies and discusses practical issues associated with the calculations. Alternative approaches to smoothing payouts using asset shares are examined. A financial management framework is described which provides information on the financial position of a with-profits fund. A central part of the framework is the concept of risk-based capital. The factors to be considered in determining risk-based capital are descri…

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