SMA ETF DC DBDC AccumulationRebalancing/Decumulation M&A AUM SWF JOBS 1
|
|
|
- まとも かくはり
- 7 years ago
- Views:
Transcription
1 Connecting Markets East & West
2 SMA ETF DC DBDC AccumulationRebalancing/Decumulation M&A AUM SWF JOBS 1
3 AUM AUM 1: AUM ) AuM % % % % % % % % % % % % % % % % 2: AUM % % % % SWF % % % % % % 3: AUM % % % % % % % % %.9 15% PWC Asset Management 22: A Brave New World 2
4 1, 2, 3, 4, 5, 6, 7, FRB
5 DCIRA DCIRA IRADC IRA 2 15 IRA DC DB DC ICI ICI 4
6 ,79 1 3, , , , , , ,86 5 1, , ,55 6 1, ,42 7 1, , , , ,34 1 1, , UFJ
7 PE PE Pension & Investments 6
8 213 % 1% 2% 3% 4% 5% 6% 7% 8% 9% 1% SWF SWF SWF Institute, Hedge Fund Research 7
9 % 14 25% % 8 15% 6 4 1% % % MMF ICI FRB 8
10 kIRA Churning IT 6 IRA 28 SMA Unified Managed Account ETF Rep As AdvisorRep As Portfolio Manager 9
11 3.5 4, 35, 3, ETF 25, UMA 2, 15, 1, 5, SMA UMASMAETF ETFETFETF Cerulli Associates Q2 SMA 1
12 ETF 11 ICI :Q1 DC IRA 1 ICI 2ETF
13 UCITS /2Q MMF UCITS 21MMF29 EFAMA 12
14 1% 8% 13.9% 25.6% 6% 4% 39.3% 9.8% 22.1% 24.8% 2% 37.1% 27.5% % 199Q4 211Q HFR 13
15 HFR 4% 3% HFR HFRI S&P Bridgewater Associates $87,18 2 J.P. Morgan Asset Management $59, 3 Blackstone* $54,293 2% 4 Och-Ziff Capital Management Group $4,6 5 Brevan Howard Capital Management $39,96 6 BlueCrest Capital Management $32,6 1% 7 BlackRock $31,934 8 AQR Capital Asset Management $29,9 % 9 UBS Global Asset Management* $27,886 1 Baupost Group $26,8 11 Man Group $26,141-1% 12 Credit Suisse Hedging-Griffo $25, Adage Capital Management $25, 14 GAM $24,983-2% 15 The Goldman Sachs Group* $24, Credit Suisse Asset Management $24, Winton Capital Management $24,641-3% 18 Grosvenor Capital Management* $24, Renaissance Technologies $23,4 2 Elliot Management $23,3-4% 21 The Permal Group* $22, Davidson Kempner Capital Management $22, 23 Paulson & Co. $2,3-5% D.E. Shaw goup $19, King Street Capital Management $19, HFR * Towers Watson Global Alternatives Survey
16 5 1, 1,5 2, 2,5 3, PE Thomson One , Thomson One PE PE
17 PEM&A IPO M&A Thomson One Thomson One PE M&A PE IPO
18 PE PEPE 29PE PE TPG Fort Worth(Texas) $52,35 2 Goldman Sachs Principal Investment New York $48,99 3 The Carlyle Group Washington DC $47,73 4 Kohlberg Kravis Roberts New York $4,46 5 Apollo Global Management New York $35,18 6 Bain Capital Boston $34,95 7 CVC Capital Partners London $33,73 8 The Blackstone Group New York $3,8 9 Warburg Pincus New York $23, 1 Apax Partners London $21,33 11 First Reserve Corporation Greenwich (Connecticut) $2, i Group London $18,39 13 American Capital Bethesda(Maryland) $17,99 14 Hellman & Friedman San Francisco $17,9 15 Providence Equity Partners Providence(Rhode Island) $16,36 16 Advent International Boston $16,13 17 Terra Firma Capital Partners London $14,21 18 General Atlantic Greenwich (Connecticut) $14,1 19 Fortrees Investment Group New York $14,8 2 Silver Lake Menlo Park $14, 21 Cerberus Capital Management New York $13,9 22 Permira London $12,67 23 Clayton Dubilier & Rice New York $11,72 24 Lehman Brothers Private Equity New York $11,71 25 PAI Partners Paris $11,5 Private Equity International The PEI The Carlyle Group Washington DC $3,65 2 Kohlberg Kravis Roberts New York $27,182 3 The Blackstone Group New York $24,64 4 Apollo Global Management New York $22,298 5 TPG Fort Wroth (Texas) $18,783 6 CVC Capital Partners London $18,82 7 General Atlantic Greenwich (Connecticut) $16,6 8 Ares Management Los Angels $14,114 9 Clayton Dubilier & Rice New York $13,55 1 Advent International Boston $13, EnCap Investments Houston $12,4 12 Goldman Sachs Principal Investment New York $12, EIG Global Energy Partners Washington DC $11, Warburg Pincus New York $11, Silver Lake Menlo Park $1, Riverstone Holdings New York $1, Oaktree Capital Management Los Angels $1, Onex Toronto $1,97 19 Ardian (formerly AXA Private Equity) Paris $9,85 2 Lone Star Funds Dallas $9, Bain Capital Boston $9,67 22 Hellman & Friedman San Francisco $8,9 23 Stone Point Capital Greenwich (Connecticut) $8, BC Partners London $8,59 25 JP Morgan Asset Management New York $8,28 17
19 VC VC VCCapital Under Management) VC VC National Venture Capital Association 2142 National Venture Capital Association 18
20 2143 National Venture Capital Association 19 VC M&A VC IPO M&AIPO JOBS212 VC M&A M&A 2143 National Venture Capital Association IPO
21 VC VC: VC VCDivestment EVCA (European Private Equity & Venture Capital Association) 2
22 21
untitled
18 9 1 5606 1 TEL 0537-36-3112 C 1. 1 172,032,512 2 1 206 3 35,438,697,472 4 1 103 17,719,348,736 5 1 103 17,719,348,736 6 18 11 17 19 1 16 7 18 11 17 19 1 16 8 9 C 1 RHJ 42,671,723 2 56,895,631 3 7,281,553
年次報告書2008年3月期
2006 2007 2008... 97,683 123,328 131,139... 49,294 58,231 35,932... 1,629,877 1,861,403 1,965,200... 3.1 3.3 1.9 20083 12% 25% 20083 20 ORIX Corporation Annual Report 2008 2006 2007 2008... 130,775 146,966
平成１２年度 対日直接投資増加の理由と日本経済にもたらす影響に関する調査 第３章－２ 各論・金融業
-- (1) 1998 5080 98 200 3- - M&A 982000 88 3-- 2000 2 OUT-IN M&A 1998-2000 98 99 2000 88 23 27 38 27 6 12 9 0 0 0 0 10 2 3 5 4 1 0 3 ( ) 47 14 12 21 MARR 44 (2) 98 88 46 3- -3 46 22 Private Equity Fund
Marketing
1 2 3 4 Bei BeiKei Kei Capital Capital Management Management Bei BeiKei Kei Research Research Bei BeiKei Kei Japan Japan Fund Fund 5 M&A 6 Over Valued Fair Value Under Valued 7 8 B I G is better? small
2011122 90 R&D 0 ) ) PE 1 49143 33 33MMF 3 5 1. 2010 2. 20105 ) 2355 161 American Banker 2010 ICI 1. Total Client Assets 2. Merrill Lynch Global Wealth Management 3. UBS6860CHF91USD=1.1CHF 4. 20119 2 19701.4
untitled
2005 3 Development Bank of Japan Representative Office in New York Morgan Stanley Goldman Sachs Citigroup JP Morgan Chase M&A M&A 2 67 2 1999 GLB PE PE 3 ...2...4...5...6... 6... 6... 9... 10... 11...
2018 年 1 月 31 日 取引所代表者御中 会社名株式会社東芝代表者の役職氏名代表執行役社長綱川智 ( コード :6502 東証二部 名証二部) 第三者割当により割り当てられた株式の譲渡に関する報告書 2017 年 12 月 5 日に第三者割当により割り当てた当社株式の割当先から 当該株式につ
1. 当該割当先の氏名及び住所並びに割当株式数氏名 GREENLIGHT CAPITAL OFFSHORE MASTER (GOLD), LTD. 住所 c/o Intertrust Ritter House Wickhams Cay II Road Town, Tortola British Virgin Islands 割当株式数 6,990,000 株 535,300 株 2018 年 1 月
アニュアルレポート2017
035 Management Organization 036 IT 1 IoTIT 2001 IT 300 037 2017 6 21 1981 9 1983 4 1986 2 1996 1 1996 7 2005 10 Alibaba.com CorporationAlibaba Group Holding Limited, Director 2006 4 CEO 2007 6 CEO 2013
2013 London New York Paris 2013 Tokyo Singapore
01 London New York Paris 01 Tokyo Singapore 01 10 Global Power City Index GPCI 008 Global Power City Index GPCI-01 GPCI YEAR BOOK 01 Global Power City Index GPCI 1... 40 6 4 5 4. 5. Global Power City
SMBC 1
2004911 N Time to Catch the Big Wave 2004 1 2004911 SMBC 1 2004 1 3 12 Time to Catch the Big Wave 28 CSR 33 2 2004 1 4 2004 1 FY2004 1Q FY2003 4Q '03.4Q FY2003 1Q '03.1Q FY2003 124,660 122,991 1.4% 111,996
untitled
18 Daiwa Securities Group Annual Report 2008 1 12 * 2006 12 6 5.6 20076.2 1215.0 2008 * SMBC SMBC 2011 31,000 1. 1,000 2. 1,000 3. PE 1,000 SMBC 2007 11 2008 4 M&A 5-4.6 5.2 4.6 7.9 10.6 3.9 2005 2006
Resona Preferred Global SecuritiesCaymanLimited りそな
そなホールディングス自己資本の充実の状況 バーゼルⅡ関連データセクション(連結)110 り自己資本 自己資本の構成及び充実度評価 連結自己資本比率 ( 第二基準 ) 223 233 233 327,201 340,472 340,472 1 400,709 237,082 237,082 1,372,121 879,383 879,383 86,840 86,847 86,847 44,994 46,894
(USD Bil.) AUM Pr
R&I REIT UFJ (USD Bil.) 350 300 250 AUM 200 150 100 50 0 191 171 127 149 92 33 49 60 16 90 61 63 64 68 82 96 105 37 2006 2007 2008 2009 2010 2011 2012 2013 2014 Preqin Global Infrastructure Report / /
野村資本市場研究所｜ASEAN投資信託市場の現状と課題（PDF）
213 Spring ASEAN 1. 2. 5.7 ASEAN 3. 3.3 4. 2.4 5. ASEAN 76 1 ASEAN 213 ASEAN 4 ASEAN ASEAN 2 1 1 1 1 1 OECD The Emerging Middle Class in Developing Countries January 21 2 Cerulli Associates Asset Management
日本の金融市場におけるファンﾄﾞの活用について ～世界に大きく遅れた日本の運用業界の現状と今後の展望を考える～
2008213 1 2 1 3 2005 2005 1 () 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2 9 2 413 689 10 20063 3 3 180 13 58 Barclay Global State Street Global Fidelity Investments Vanguard Group Legg Mason Capital
untitled
L A - 5 8 SBIC 2005 12 ERISA Employee Retirement Income Security Act of 1974 L Leverage SBA LR Leverage Ratio SBA ME Management Expense PC Private Capital PD Participating Debenture PPA Prioritized Payment
商学論叢 第62巻 第1号
JPMorgan Chase & Co. JPMorgan Chase & Co. 1) 1) Citigroup 1 Citigroup, Inc. 61 4 2017 3 JPMorgan Chase & Co. Chemical Banking Corp. Manufacturers Hanover Corp. The Chase Manhattan Corp. The Chase Manhattan
年次報告書2008年3月期
Reliability in a Challenging Environment Creating Value for Clients Creating Value for Business Partners Creating Value for Society ORIX is generating medium- and long-term growth by enabling value creation
詳細情報 津金眞理子 mariko.tsugane@gold.org 81 3 3402 4826 01 02 03 03 03 04 TM 04 05 1 05 2 06 3 08 4 11 12 13 14 森田隆大 takahiro.morita@gold.org 81 3 3402 4825 ジュアン カルロス アルティガス juancarlos.artigas@gold.org 1 212
(NPB) # # # ACL # - () 2
sito@ism.ac.jp (2012/11/5) 1 (NPB) # # # ACL # - () 2 (NPB) # # # ACL # MLB 3 MLB Regular Season Standings (NPB) # # # ACL # September 29, 2012 E#: Elimination Number... that will eliminate the trailing
平成23年度産業金融システムの構築及び整備調査委託事業,我が国の個人金融資産の資産運用高度化のための調査報告書
23 2012 2 1 5 6 6 9 IRA 401(k) 13 MMF Separately Managed Account; SMA ETF REIT 2 29 IRA 401(k) IRA 401(k) 45 3 55 55 57 65 67 73 4 0 5 57 80 80 6 89 10 58.6 90 90 04 8 98 14 2011 10 25 57 12 6 51 98 05
ビッグバンの検証と今後の課題
200111 1 2 MMF 984 MMF 20016 3.7 1.3 MMF MMF 3 ETF 20017 225 TOPIX S&P/TOPIX150 8 ETF 200010 ETF 3,000 ETF 2001111 4 9812 5 5 6 9812 7 20013 2 8 9 9812 98 10 91 3,288 3 2000 2,309 90 15.3 4 2000 9.4 90
untitled
Loyalty Insights ネット プロモーター経営 ロブ マーキー フレッド ライクヘルド 森光威文 Copyright 2014 Bain & Company, Inc. All rights reserved. 1 NPS blog report fin NPS blog report fin 2 3 NPS blog report fin 4 NPS blog report fin NPS
Channel to Discovery Plan &
2007 Channel to Discovery Plan & 3 2007 3 2008 1 1 2 6 8 2006 10 14 1 2 16 19 20 22 24 26 28 30 32 34 36 42 43 44 45 70 71 72 2000 10 1 2007 2 2007 2000 10 3 2010 M 2007 M 2010 1,000 2006 2006 M&A 102006
野村資本市場研究所｜SWF：行動規範の策定と最近の動向（PDF)
SWF 1. SWF SWF SWF 2. SWF SWF 26 IMF OECD 3. SWF IMF GIC SWF 4. SWF SWF SWF 5. SWF SWF CIC 6. SWF SWF SWF OECD IMF 145 2009 Winter Sovereign Wealth Fund SWF 2008 9 SWF 2007 2008 SWF 2008 SWF 2008 6 SWF
Hills 00 ICI0 993 994 995 464,05 00 99,989 3 37,78 464 44,05 37,377 44 009 777,8 304,044 69 07,08 005 300,80 86,83 5,004 006 4,550 3,487 0,54 007 608,4 300,930 9 34,648 008 53,88 66,6 3 57,09 8,975 65,0
UFJ
UFJ UFJ () UFJ UFJ 2002 7 2 82 UFJ 2002 9 UFJ 2002 7 22 83 84 UFJ 1 2 3 4 1 2 16 15 14 90 6 5 2002 7 22 85 UFJ 1 2 DC 1 2 3 4 3 2 1 3 2 1 2 1 2002 7 22 UFJ 2002 7 22 CEO 188 2 7 2 UFJ UFJ p 86 p 18 1 2002
p. 62 Fundmark
p. 62 Fundmark DC Fundmark Fundmark MMF Fundmark TOPIX ETF/ MMF TOPIX ETF ETF TOPIX TOPIX TOPIX buy & hold TOPIX TOPIX TOPIX TOPIX t0 t1 t2 t3 t0 t1 t2 t3 TOPIX t0 t1 t2 t3 t0 t1 t2 t3 TOPIX t0 t1 t2 t3
アニュアルレポート 2014
SoftBank Corp. ANNUAL REPORT 2014 053 The Fast Read CSR SoftBank Corp. ANNUAL REPORT 2014 054 The Fast Read CSR 2014 6 20 1981 9 1983 4 1986 2 1996 1 1996 7 2001 6 BB 2004 2 CEO 2004 7 2006 4 CEO 2006
伝統的な経済学では、「消費は重要ではあるが、気にしなくてもよい」と考えられてきた
2005 1 2004 SARS 2003 IMF 2004 5.0 2004 4.1 0.9 30 2005 2004 2005 2005 2005 2004 2005 IMF 2005 4.3 2004 IMF 2004 2003 3.0 4.3 2003 2 2003 2004 IT 2005 IMF 2005 2004 3.5 IT 1995 10 2.8% 10 2 1 IT IT 2004
untitled
2006 9 12 (CSA) - 1 : 2 : 3 : 15-17% (1) * * PT DMA/DSA (give-up) 13.5% (2) 11% (3) 10% (4) 8% (5) 2 8-25 16 64 6-1064 1 = 1 : UBS 3 16 64 4 5 25 25 2005 2005 239 20 15 10 5 0 1 2 3 4 5 6 7 8 9 10 11
レビューの雛型（ワード）
~ -------------------------------------------- -------------------------------------------- 2000 1 2009 3 1 1. 2. 3. 3.1 3.2 / 3.3 () () () () 2 URL 1 3 10 Benchmark Broad, AllHedge, Blue Chip 3 Specialty
H1,H4.QXP
38 39 C o r p o r a t e B a n k i n g U n i t 40 41 42 43 44 45 46 47 48 49 T r e a s u r y U n i t 50 51 52 I n v e s t m e n t B a n k i n g U n i t 53 54 55 56 57 Securities & Asset Management Unit
A-FR
11 12 > 17 13 14 http://store.uniqlo.com/jp/ http://www.uniqlo.com/jp/corp/customer 15 16 LONDON PARIS SHANGHAI 18 100 80 94 60 54 40 39 30 20 9 11 9 14 0 02 03 04 05 06 07 08 09 HONG KONG SEOUL NEW YORK
資料８
5.1. 5.2. 5.3. 5.4. 5.5. 5.6. 5.7. 5.8. 5.9. 5.10. 5.11. 5.12. 76 5.1. 1. (1) 703 GDP 14 350 135 1100 17 (2) 77 (3) 78 (4) 29 79 2007 2007 2. (1) IT FAX 80 (2) (3) 81 (4) IT 3. (1) (2) 19 82 CSI 83 IT
EY COO Assets Under Management AUM 50 1 500 5,000 40 4?? Alex Birkin Partner and Global Wealth & Asset Management Advisory Leader, Ernst & Young LLP A
EY COO Assets Under Management AUM 50 1 500 5,000 40 4?? Alex Birkin Partner and Global Wealth & Asset Management Advisory Leader, Ernst & Young LLP Alan Fish Partner and Americas Wealth & Asset Management
untitled
L A Energy Giant Energy Giant 12 2 2001 MMF World Energy Giant the Largest Energy Trading Company Fortune (2002 1 ) DC LA 1 2001 () 1985 Houston Natural Gas Inter North 1980 90 99 1998 2000 3 313 1008
12056286_03.indd
: 82 1 2013 7 2010 2011 1 30 2010 30 2011 30 2010 9 10 11 2011 1 2 1 2010 9 UK UK UK UK UK p. 843 45 82 1 1 UK 9 9 2007-08 UK 30% 30 20%30 150 30 32.5% 2030% p. 843 3 2004-05 5% 5% 75% p. 843 2010 11 1963
‚æ6“ƒ/Ł\1-Ł\4
TOB TOB TOB 2000 TOB LSE2000 11 OMTOB LSE M&A TOB 12 1 2 3 1999 3440801990 1998 52690 54 4 100 1 2 3 4 BP 20001043 Business Research 200069 200112 JP 13 TOB 1999 C&WIDC TOB 5 NTT 97.7 C&W 17.7IDC TOBNTT
0ﾕ0・・ﾏ0・ﾆ0｣0ﾞ0ﾍ0ｷ0・・・ﾈ
2012 12 18 81 74 2012 2012 6 18.3 9,000 12 7 12 40 3 30 10 51 2001 J-REITJ-REIT 2008 9,000 7,000 1 IRR20 REIT 30 100 52 PROPERTY MANAGEMENT 2013 Jan. VIEWPOINT AM SPC REIT REIT J-REIT REIT REIT REIT AM
METRO ATLANTA ,000 METRO ATLANTA A. 4
METRO ATLANTA 2010, Kevin C. Rose/AtlantaPhotos.com METRO ATLANTA 530 14 8,000 METRO ATLANTA 1837 1847 1864 1886 1914 1925 A. 4 MSA METRO ATLANTA 10 GDP 7,800 3,300 GDP 2010 3.2 22 5 GDP 4 GDP MSA 28 2010
- March IMF IMF IMF ITO The General Agreement on Tariffs and Trade
M&A IMF IMF gold tranche - March IMF IMF IMF ITO The General Agreement on Tariffs and Trade IMF IMF IMF GATT OECD OECD BITs. - March. U I = I (r m, i, Z * r m i Z * (= Z / Z) I / r m > I / i < I / Z *
1
1 3 5 5 5 DC 9 NISA 20 22 26 26 IRA Roth IRA SEP SIMPLE 27 401(k) 33 529 38 ESOP 40 42 42 ISA 43 49 NEST 52 54 56 56 56 58 58 59 60 61 61 NISA DC 62 NISA 62 DC 63 DC 64 67 67 67 68 69 69 70 70 71 72 NISA
アニュアルレポート 2013
050 CSR 2013 6 21 Director and President, SoftBank Holdings Inc. 1981 9 1983 4 1986 2 1996 1 1996 7 2001 6 BB 2004 2 CEO 2004 7 2006 4 CEO 2006 10 CEO 2007 6 CEO 1977 2 1984 10 1988 2 1993 4 1999 9 BB
アジアの資本移動の変化に関するクラスター分析 アジア域内の証券投資活性化に向けて
* ** 199 1 1996-97 relation * ** Seoul conference China and Emerging Asia: Reorganizing the Global Economy? held by KIEP and Seoul National University 26 5 11-12 Hugh Patrick Yung-Chul Park 26 9 9-1 East
GLOCOM Review 3:3 2
GLOCOM Review 3:3 Center for Global Communications, 1998 1 GLOCOM Review 3:3 2 GLOCOM Review 3:3 3 GLOCOM Review 3:3 4 GLOCOM Review 3:3 5 GLOCOM Review 3:3 6 GLOCOM Review 3:3 7 GLOCOM Review 3:3 8 GLOCOM
http://www.softbank.co.jp/ The No.1 Name in Broadband ANNUAL REPORT 2003 Contents 2 4 The Reason why SOFTBANK is No.1 in the Broadband Market 12 13 54 55 21 1876 1941 1970 IT20 ADSL Yahoo! BB No.1 2003
SSC - 2 -
Ohmae&Associates Group General Services, Inc SSC - 2 - SSC SSC SSC SSC SSC BUSINESS RESEARCH No965 200410-3 - SSC SSC SSC S S C 5 5 1 2-4 - SSC M&A SSC IT - 5 - SSC SSC HC A B C 1 2 3 4 BC SSC IT SSC -
CEO Passion for the Best 217 CEO 22 No Passion for the Best
18 CEO 29 CFO 31 37 38 4 42 44 45 46 216 17 CEO Passion for the Best 217 CEO 22 No.1 2 3215 4 3 Passion for the Best 217 18 216 Passion for the Best 217 215 216 217 1 No.1 2 3 M&A 1 ROE: 1% 2 75% 1215
,200,343 72,767,734 2,626,217 3,124,649 2,286,698 2,653, ,654 1,828,672 1,516,342 5,732,042 1,941,142 2,671,554 2,034,633 2,
19 193 2118 193 2 18 19 19331 20331 3,954,022 4,947,520 1,102,078 570,802 76,551 357,075 2,276,894 1,940,170 960,591 1,091,663 3,262,341 4,081,480 2,924 7,329 20,304,639 23,160,903 59,617,850 62,972,601
14 Passion for the Best 214 Passion for the Best 214 Passion for the Best 214 212 Turnaround 213 Growth 214 Expansion I II 1 [] [] 1,2 [] 5% 1 2 1 197
![14 Passion for the Best 214 Passion for the Best 214 Passion for the Best 214 212 Turnaround 213 Growth 214 Expansion I II 1 [] [] 1,2 [] 5% 1 2 1 197](/thumbs/39/20191004.jpg "14 Passion for the Best 214 Passion for the Best 214 Passion for the Best 214 212 Turnaround 213 Growth 214 Expansion I II 1 [] [] 1,2 [] 5% 1 2 1 197")
13 14 Passion for the Best214 18 CEO 23 COO 24 At a Glance 26 28 3 32 33 214 14 Passion for the Best 214 Passion for the Best 214 Passion for the Best 214 212 Turnaround 213 Growth 214 Expansion I II 1
WGC WGC WGC 1 2 5 6 7 11 WGC Ashish Bhatia +1 212 317 385 Natalie Dempster +44 2 7826 477 George Mill
1 WGC WGC WGC 1 2 5 6 7 11 WGC Ashish Bhatia ashish.bhatia@gold.org +1 212 317 385 Natalie Dempster natalie.dempster@gold.org +44 2 7826 477 George Milling-Stanley george.milling-stanley@gold.org +1 212
Longevity Risk 20 WHO 65 7% 14% 21% % [2]
![Longevity Risk 20 WHO 65 7% 14% 21% % [2]](/thumbs/48/24620771.jpg "Longevity Risk 20 WHO 65 7% 14% 21% % [2]")
リタイアメント 高齢化問題に いかにして向き合うか 2016 年 7 月 Longevity Risk 20 WHO 65 7% 14% 21% 1970 1994 2007 21.5% 2 1. 4 2. 6 3. 20 4. 10 30 10 34 [2] 532 2016 3 Pensions & Investments WORLD S LARGEST MONEY MANAGERS as of
野村資本市場研究所｜勃興するインドネシアのリテール金融ビジネス（PDF）
2012 Winter 1. GDP 3,000 2. 3. 4. 10 20 5. socialisation 32 1 7 2 4 30 8 G20 1 1998 5% 2010 6.1% 2010 GDP 6,400 65 1 GDP 3 GDP 30% 33 2012 Winter 1 GDP 2010 2 42010430 192 km 2 51.8 922 87%10% 1 = 1002011
野村資本市場研究所｜JOBS法の成立と米国IPO市場の今後の動向（PDF）
JOBS IPO 1. IPO the Jumpstart Our Business Startups Act, JOBS 2012 4 5 JOBS IPO 2. Regulation 144A Emerging Growth CompaniesEGC 404(b) 3. EGC JOBS IPO JOBS 4. JOBS NASDAQ IPO JOBS JOBS IPO 125 2012 Autumn
NY －
2002 12 IT 2002 NEXT ENERGY INITIATIVE 2002 12 1 NEXT ENERGY INTIATIVE 12 13 2 2002 4 NEXT ENERGY INITIATIVE 3 40 993 8 2000 ( 95 2 ) - 1960 IT 10 35 40 20 NEXT ENERGY INITIATIVE 2002-4 20 General Motors
2 4 8 UFJ24 1 14 24 UFJ 3 CS 32 IT 34 37 ALM 57 58 243 59 66 69 9 92 94 117 UFJ 117 UFJ 153 UFJ 29 259 264 215229
UFJ 24 2 4 8 UFJ24 1 14 24 UFJ 3 CS 32 IT 34 37 ALM 57 58 243 59 66 69 9 92 94 117 UFJ 117 UFJ 153 UFJ 29 259 264 215229 24UFJ 247 UFJ UFJ UFJ UFJ UFJ 22 3 23 3 24 3 UFJ UFJ 13,629 13,715 11,982 1,641
S&P500 S&P500 Short S&P 500 Fund ProShares UltraShort S&P500 ProShares Ultra S&P500 ProShares Direxion ProShares S&P500 SPDR S&P 500 ETF Vanguard S&P
S&P500 S&P500 Short S&P 500 Fund ProShares UltraShort S&P500 ProShares Ultra S&P500 ProShares Direxion ProShares S&P500 SPDR S&P 500 ETF Vanguard S&P 500 ETF ishares S&P 500 ETF SPDR S&P 500 ETF (SPY)
,1593,1271, , ,
2010 3 1 2 199110 174/3 199110 174 3 3 4 5 JIS JIS X 0208, 1997 ö _ http://www.pref.hiroshima.lg.jp/soumu/bunsyo/monjokan/ 199110 8,1593,1271,05848276717 742,2363971 7,765 3 1991 11 11 172222122 12 11
シェアの価値, Never, Never Loose Share, ポートフォリオの再発見（BCGクラシックス）, Renaissance of the Portfolio, 時間という武器：タイムベース競争（BCGクラシックス）, Rules of Response, Time-Based Results
4-1 102-0094 Tel.03-5211-0300 Fax.03-5211-0333 3-28-12450-0002 Tel.052-533-3466 Fax.052-533-3468 2003AUTUMN C O N T E N T S 1 2 4 3 5 6 8 7 9 10 12 11 13 14 Renaissance of the Portfolio 15 16 17 18 20
46 RIM 2007 Vol.7 No HSBC WTO 2006
19782006 200716.7 2006 2007 RIM 2007 Vol.7 No.27 45 46 RIM 2007 Vol.7 No.27 2003 HSBC 1978 2006 2007 WTO 2006 RIM 2007 Vol.7 No.27 47 2003 10 92 95 98 99 4,000 20032006 2003 225 AMC 150 joint -stock companies
PhillipCapital Your Partner In Finance
Your Partner in Finance 2012 4 1975 13 3,200720,000 Philli p recog nition WCWB (UK) CFD King & Shaxson (UK) IFS Capital (SG) 1975 1987 1993 2001 2003 2006 2008 2010 1981 1991 1996 2002 2005 2007 2009
カリキュラム構成及び履修方法
2008 10 22 Global Power City Index GPCI Global Power City Index - 1 - 106-6110 6-10-1 TEL:03-6406-6800/5945 E-mail:miwa@mori.miinet.jp - 2 - : () : : J UCLA : : - 3 - - 4 - - 5 - - 6 - STEP 45 63 Quality
1 2 3
1 2 3 2. 3. 1 2 3 2. 2 3 4 5 1 2 3 4 2. 1 2 3 4 5 6 7 1. 2. 4. 1 2 5. 3 4 .5 52. 53 1.53 53 55 56 57 60 2.64 3.64 4.65 5.66 66 67 68 6.74. 75 1.75 75 75 76 77 78 2.80 80 80 80
野村資本市場研究所｜カナダで普及が進む教育資金形成制度RESP（PDF）
2013 Spring RESP 1. 25 1,500 2013 4 2015 RESP 2. RESP 44 3. RESP RESP 4. 2040 6 60 5. 192 25 1,500 2013 4 2015 Registered Education Savings Plans RESP 1 RESP RESP RESP 1974 90 2000 1998 Canada Education
1 1980 5, 2008; Shih, Wang, & Wei, 2007 6 1,342 ha 2009 8,835 2003 1,677 ha 2009 2,412 1995 1,613 ha 2009 4,611 2 1 1990 200 1990, 2008 2 IC 2 2009 IC
ISSN 1347-4448 ISSN 1348-5504 10 3 2011 3 E-mail: kishimoto@icsead.or.jp 100 200 1, 2000 1990 Acer IC Integrated Circuit TSMC IC MediaTek AUO 2011 Global Business Research Center www.gbrc.jp 179 2010 8
アニュアルレポート2018
ANNUAL REPORT 2018 Contents 001 009 110 001 a. 2017 3 31 2018 3 31 2018 3 31................................................................................ 8 2,183,102 3,334,650 $ 31,387,895...........................................................................
<4D6963726F736F667420506F776572506F696E74202D203230313531315F90A28A458A948EAE837483408393836894CC948497708E9197BF5F5342498FD88C942E70707478>
グローバル投資に 新たな視点を キャピタル世界株式ファンド 追加型投信 内外 株式 お申込み 投資信託説明書 交付目論見書 のご請求は 商号 : 楽天証券株式会社 金融商品取引業者 関東財務局長 金商 第195号 加入協会 : 日本証券業協会 一般社団法人金融先物取引業協会 一般社団法人第二種金融商品取引業協会 設定 運用は キャピタル インターナショナル 商号 : キャピタル インターナショナル株式会社
AT A GLANCE INDIVIDUAL GROUP 63.72% 1, % At a Glance INSTITUTIONAL GROUP 34.26% % GLOBAL MARKETS GROUP 5.56% % 2
214 At a Glance 32 36 38 4 42 43 31 AT A GLANCE INDIVIDUAL GROUP 63.72% 1,293 32.4% 226 214 At a Glance INSTITUTIONAL GROUP 34.26% 695 76.26% 532 32 GLOBAL MARKETS GROUP 5.56% 112 4.2% 28 3 1% 1,5 5 1,
Contents LINK TO GOOD LIVING 1
5938 216 3 215 4 1216 3 31 Contents... 2... 3... 7... 9... 11... 13... 14... 18... 19... 21... 22... LINK TO GOOD LIVING 1 LIXILCEO 5 3 IoT 6 3 INAX LIXIL CEO 2 196 6 1983 2 MonotaRO MonotaRO11 21 MonotaRO
野村資本市場研究所｜米国バイアウト・ファンドの興隆と変貌(PDF)
コーポレートファイナンス 岩谷賢伸 要約 1. 近年 企業買収に投資するプライベート エクイティ ファンド ( 以下バイアウト ファンド ) の投資が活発になるとともに 年金基金等機関投資家から大量の資金がバイアウト ファンドに流入している 2006 年は 全世界で前年比倍以上の 7,098 億ドルに上るバイアウトが実施され 11 月末までに過去最高の 1,288 億ドルの資金が米国のバイアウト ファンドに流入した
3 Passion for the Best
2007 3 5 7 2007 2006 3 2007 3 5 3 Passion for the Best 2008 9 2006 3 29 8601 1902 5 1 1943 12 27 1,783 13,643 14 466 2-6-4 GranTokyo North Tower 2006 12 2006 12 2006 12 SMBC 4 SMBC SMBC 17.5% 51.3% 2.8%
FRB EU EU.GM JFE AIG HD
FRB EU EU.GM JFE AIG HD BNP CEO JP AIG S & LSaving and Loan Association S & L SIVStructured Investment Vehicle FRB IMF OECD IMF CDS Crejit Default Swap CDOCollateralized Debt Obligation AIG CDS SIV CDO
LIFULL アニュアルレポート 2017
LIFULL LIFULL ANNUAL REPORT 2017 Contents 2 4 6 12 16 Vision and Strategy 18 LIFULL 20 LIFULL Value Model 22 22 24 26 28 28 30 30 34 CFO&CSO Fact Data 38 40 3 41 42 44 45 2017 4 1 LIFULL ANNUAL REPORT
BJ-No.7 01 三好秀和.indd
Vol. 72013 1 1 AIJ 1 AIJ AIJ AIJ AIJ 1 2 3 4 AIJ 2 1986 1986 1 21986 2007 7 2 Vol. 7 3 4 1986 1986 5 5 6 31981 1984 1986 23 3 23 3 247 502 6 22 17 26.4 19.8 5 4 18 7 12 16 10915 200737 41 AIJ 52007 7 62011
Granger/PPS Image courtesy of the Prints & Photographs Division, Library of Congress 3
Yokohama Museum of Art Yokohama Museum of Art Digital Image 2015 Museum Associates / LACMA. Licensed by Art Resource, NY Granger/PPS 1 2 3 4 5 Image courtesy of the Prints & Photographs Division, Library
1920年代アメリカの新興製造業部門の独占利潤と内部資金
1920 1920 20 1920 1920 J.S.Bain 1 S.Hymer 2 S.Hymer J.S.Bain Hymer Bain Bain Bain 3 Bain Bain Bain 20 Hymer Bain Hymer Bain Bain 4 2, April 2002 Bain Bain first importance as a regulator of business activity
証研レポート NO.1602
939619 2001 16 1995 1996 1997 1993 1994 1998 16 1999 21 10 2000 24 10 1997 1997 PTS 1997 199710 20011012 1998 1998 M&A 19991011 1998 2001 100 IPO 100 1998 FA 1998 98 199811 IPO 199812 2000 1999 1999 100
untitled
1 100 80 60 1 40 20 0 20 40 60 80 100 95/10 96/10 97/10 98/10 99/10 00/10 01/10 02/10 03/10 04/10 05/10 06/10 07/10 08/10 09/10 10/10 11/10 12/10 2013420137 1310.0 422.4 721.95.3 16.412.5 4 22.0 18.012.0
金／金
IMF IMF M&A IMF IMF Gerchenkron Gerchenkron unbalanced growth Gerchenkron Johnson development state Hirschman IMF OECD IMF IMF GDP crony capitalism Krugman IMF capital market-based financial system bank-centered
Superfund 2
Superfund 2 Preface 3 Traditional Investments 4 Traditional Investments 1) +400% +300% +200% +100% 0% -100% 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 +600% 2) +500% +400% +300% +200%
和RIMNo.22高安氏.indd
NIEsGDP 1990 200436.1 22.365.1 80 GDP 4 RIM 2006 Vol.6 No.22 RIM 2006 Vol.6 No.22 5 NIEs GDP GDP GDP GDP 90 GDP 1951 80 81 90 90 90 2001 2003 GDP 80 90 2001 2002 GDP 87GDP 80 GDP GDP 6 RIM 2006 Vol.6 No.22
1960 1960 Peace Corps 1961 4 1985 17 2 3 2 1962 Voluntary Service Overseas VSO 1970 3 2 JICA 1985 2001 2004 2004 2005 2011 2 3 1 No. 637 2014 12 27
Okabe Yasunobu JOCV: Japan Overseas Cooperation Volunteers 1965 2014 9 3 9559 88 3 JICA ODA 3 1 20 2 3 50 4 3 1 1 1 3 3 1 1960 2010 25 No. 637 2014 12 26 1960 1960 Peace Corps 1961 4 1985 17 2 3 2 1962
We are AIG. Bring on tomorrow AIG AIG 100 9,000 65,000 AIG 1
AIG Companies in Japan 2016 www.aig.co.jp We are AIG. Bring on tomorrow AIG AIG 100 9,000 65,000 AIG 1 AIG in Japan AIG AIU 1946 70 AIG 2 AIG One AIG 3 AIG AIG AIG AIG AIU AIG AIG AIG AIG AIG *1 *2 *
33312004_先端融合開発専攻_観音0314PDF用
Advanced Course for Interdisciplinary Technology Development National Institute of Technology, Gifu College Advanced Course for Interdisciplinary Technology Development 1 5 Curriculum National Institute
投資顧問残高は米国が前年比 +16.7% の 8768 兆円 日本が同 +17.6% の 291 兆円!! 世界の残高は時間軸等かなり大雑把なので 世界最大の米国 そして 日本を見る 米国は 218 年 9 月 6 日発表の IAA/ 米投資顧問業協会 Evolution Revolution 21
三菱 UFJ 国際投信情報提供資料 / 投信調査コラム 日本版 ISAの道 投信調査コラム 日本版 ISAの道その244 日本の投資顧問 1847 兆円 ラップ /SMA57 兆円 そして 公募投信 396 兆円 ( 現在より6~7 倍 ) の道 ~ 投資顧問とラップ SMAの日米比較より~ 三菱 UFJ 国際投信がお届けする 日本版 ISA に関する情報を発信するコラムです 情報提供資料 218
OXFORD ECONOMICS
SAP SAP ... 1... 2... 4... 6... 7... 10... 12... 13... 14... 17 OXFORD ECONOMICS SAP 4 525 Oxford Economics Oxford Economics 2011 5 OXFORD ECONOMICS 1 / Oxford Economics 2011 3 525 4 30% 3 2 5 5 1 / 2
01 2016 32 02 ICT ICT 1,431 103.2% 私 たちは 匠 の 技 と 心 を 大 切 にします ICT 42 2.9% 2,100 7,100 3 ICT
7518 7518 100 IR 5 4 1 3 31 6 3 31 3 31 9 30 URL http://www.netone.co.jp/ http://www.netone.co.jp/ir.html IR IR PC QR Vol.33 4 19 30 2016 32 P01 P03 P07 P09 P10 4 1 4 1 168-0063 8 4 Tel: 0120-782-031 100-7024
I 198805 198834 198835 198911 199505 199507 199607 199608 200203 200526 Living Hiroshima 200701 200702 II 1 2 P92-7 P92-2 P92-34 P01-32 P01-105 P16-1
24 7 20 26 8 5 1 2 3 4 1 47 3 51 3 63 3 2 3 4 B08 B08.1 4050 0060 1 2 1 2198805 198834 198835 4 1 I 198805 198834 198835 198911 199505 199507 199607 199608 200203 200526 Living Hiroshima 200701 200702
untitled
22 (2010 ) 2010 7 31 2011 3 31 22 [] 23 23 22 10 23 31 natural TIFFTIFFCOM 2010 7 JKA MPA JKA PCL WOWOW SANKYO AOKI 1 TOHO Cine Grid J-WAVE [ ] 23 22 10 23 10 31 9 7 TIFFCOM2010 Action! For Earth Earth
OECD Benartzi and Thaler Brown et al. Mottla and Utkus Rooiji et al. Atkinson et al. MacFarland et al. Elton et al. Tang et al. Benartzi and Thaler Br
IFRS. OECD Benartzi and Thaler Brown et al. Mottla and Utkus Rooiji et al. Atkinson et al. MacFarland et al. Elton et al. Tang et al. Benartzi and Thaler Brown et al. /n Benartzi and Thaler n /n Benartzi
Sony Life Insurance Co., Ltd. 2017
1... 082 1-01... 082 1-02... 083 2... 084 2-01... 084 2-02... 086... 086 3... 087 3-01... 087 3-02... 087 3-03... 088 1.... 088 2.... 088 3.... 088 3-04... 088 1.... 088 2.... 088 4... 088 5... 089 6...
2017 Global Power City Index 2017 London Paris GPCI 10 4 1 2 New York 3 Tokyo 5 Singapore 2017 10 Global Power City Index, GPCI GPCI GPCI-2017 ICT 244 2008GPCI 10 10 70 10 10 YEARBOOK 2017 2018 1 GPCI
untitled
BNP 2007 1 BNL 82 20.5 46 18.7 36 22.7 25 700 24.5 * 7.1 5.8 8.9 * 2007 5 4 BNP 2007 1 2007 1 82 1300 20.5 BNL 7.1 18.7 5.8 45 8600 1.8 1.3 22.7 36 2700 8.9 1 4400 2 6000 1 900 BNL 24.5 25 700 FRB 1 4.1
KDDI Pension Fund KDDI 企業年金基金 Japan Bank for International Cooperation(JBIC) 国際協力銀行 National Pension Fund Association 国民年金基金連合会 National Pension Fund
AIF2014 Delegate Information Total Registered Delegates Registered Supporting Organizations and Guest Speakers Total Non-sponsor participants registered Total Sponsor & Speakers registered No show 227