Time Diversification Frontiers and Efficiency Frontiers:
               <i>Implications for Long-Term Portfolio Management</i>

Niklewski, Jacek; Redhead, Keith

doi:10.3905/jwm.2013.16.3.031

Cited by 1 publication

(1 citation statement)

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“…Niklewski and Redhead argued that in terms of diversification over the term of investment, bank deposits and bonds are suitable for short-term and medium-term investments, as opposed to stocks that are more suitable for long-term investments (Niklewski and Redhead 2013). The works of many authors are devoted to the evaluation of investments in financial instruments, including bonds.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Tax Preferences on the Investment Attractiveness of Bonds for Retail Investors: The Case of Russia

Boldyreva

Reshetnikova

Tarkhanova

et al. 2020

JRFM

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The impact of tax incentives on the investment attractiveness of bonds for retail investors is assessed in the article. The paper presents a comparative empirical analysis of investment attractiveness of Russian bonds and bank deposits for domestic retail investors. We identify investment preferences of retail investors in Russia, analyze investment characteristics of deposits in Russian banks and a variety of bonds available for retail investors. Given the tax benefits of the recently introduced Individual Investment Account, we show that the real yield of investment in government bonds is over eight times higher than the yield of bank deposits. Despite higher risks of investing in bonds, we conclude that government bonds taking into account the tax benefits of the Individual Investment Account could be a realistic alternative to bank deposits for Russian retail investors.

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Section: Literature Reviewmentioning

confidence: 99%