# Asymptotically Optimal Management of Heterogeneous Collectivised Investment Funds

@article{Armstrong2020AsymptoticallyOM, title={Asymptotically Optimal Management of Heterogeneous Collectivised Investment Funds}, author={J. Armstrong and C. Buescu}, journal={arXiv: Portfolio Management}, year={2020} }

A collectivised fund is a proposed form of pension investment, in which all investors agree that any funds associated with deceased members should be split among survivors. For this to be a viable financial product, it is necessary to know how to manage the fund even when it is heterogeneous: that is when different investors have different preferences, wealth and mortality. There is no obvious way to define a single objective for a heterogeneous fund, so this is not an optimal control problem… Expand

#### One Citation

Collectivised Post-Retirement Investment

- Economics
- 2019

We quantify the benefit of collectivised investment funds, in which the assets of members who die are shared among the survivors. For our model, with realistic parameter choices, an annuity or… Expand

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