An ALCO perspective on treasury risks
- Authors: Schoeman, Gideon Petrus
- Date: 2012-09-05
- Subjects: Asset-liability management , Bank management , Risk management
- Type: Mini-Dissertation
- Identifier: uj:3592 , http://hdl.handle.net/10210/6973
- Description: M.Comm. , The purpose of this study is to describe the different approaches to risk management by the bank's ALCO and the bank's treasury. The clear identification of their responsibilities will improve overall management, profitability, performance evaluation and benchmarking, as well as the interpretation and management of market risk regulation. The contribution of this study lies in the fact that this problem is frequently mentioned by senior bank executives and researchers as one factor inhibiting to the effective strategic management of banks and one of the major causes of friction between management in banks.
- Full Text:
Die befondsingsbeleid en -strategie in bankwese met spesifieke verwysing na risiko
- Authors: Bothma, Stefanus Jacobus
- Date: 2014-04-10
- Subjects: Asset-liability management , Bank management , Baks and banking - Equipment and supplies
- Type: Thesis
- Identifier: uj:10554 , http://hdl.handle.net/10210/10080
- Description: M.Com. (Business Economics) , By paying more attention to the risks associated with funding, banks will be able to fund themselves more effectively. Of especial importance are liquidity and interest rate risk because of the perceived trade-off that exists between them. This complicates the funding of a bank. To manage the liquidity and interest rate risks effectively requires a comprehensive analysis to ensure that they are properly understood. The causes, origins, inter-relationships with other risks and the measurement of risk are investigated thoroughly. The management of these risks is then examined. With regard to risk management, it is especially important not to focus on anyone risk in isolation, but to manage the multiple risk profile bearing in mind their interrelationships. All the risks a bank is exposed to are ultimately reflected in capital risk. Stringent capital requirements are imposed upon banks and these are being phased in over the period to 1995. Consequently capital risk is also investigated. The relationship that exists between liquidity risk and interest rate risk is investigated. Ways and means to separate these two risks are examined to try and manage them separately. In this way each of these two risks can be managed within acceptable norms. To achieve this goal, the use of the traditional funding instruments, modified funding instruments and derivatives are examined. Each of these are investigated and applied to the funding of a bank. The yield curve is investigated as one of the ways to explain the term structure of interest rates. The different types of yield curves and the meaning of each are dealt with. Thereafter the use of yield curve analyses in forecasting interest rates is assessed with a view to formulating an optimal funding strategy. An asset and liability model was used during the analysis of liquidity risk, interest rate risk and the yield curve.
- Full Text:
The benefits of asset management in improving manufacturing performance in an explosives manufacturing plant
- Authors: Phindela, Bonga
- Date: 2017
- Subjects: Assets (Accounting) - Management , Asset-liability management , Industrial management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/269267 , uj:28605
- Description: M.Phil. (Engineering Management) , Abstract: Asset Management provides care for equipment in a factory, which will ensure that the equipment delivers the required volume, at the expected quality, in the safest way possible, and still reach the expected lifespan within cost. Any manufacturing facility, however big or small, has a goal to deliver the compelling business needs within a required timeframe, and still allow for effectiveness in the day to day running of the processes that contribute towards the overall growth of the business. Without full engagement of all people in a company’s spectrum, an asset management strategy can fail. It is therefore essential to ensure that satisfaction of the workforce is met to allow total productivity and ensure that any organisation can maximise on its compelling business needs’ outputs. People are the company’s best assets and just like machinery, without proper care, the performance of a manufacturing facility can be adversely affected. If asset management is applied as a strategy to improve the performance of production machinery, can it have a direct, positive impact on the availability of equipment, production output, overall safety, quality, cost efficiency, and employee morale? This paper aims to observe the impact that an asset management strategy can have on the performance of an explosives manufacturing organisation. It explores the ways in which South African manufacturing industries can implement asset management as a strategy for improving their performance, and undertakes observation of an organisation prior to asset management implementation, and then post asset management implementation. The observations are compared to confirm asset management as a significant element in the organisation’s results.
- Full Text:
The regulation of hedge fund managers in South Africa : an impact assessment
- Authors: Mqokiyana, Nkululeko
- Date: 2012-10-29
- Subjects: Investment advisors , Asset-liability management , Hedge funds , Private equity funds , Investments
- Type: Mini-Dissertation
- Identifier: uj:10467 , http://hdl.handle.net/10210/7931
- Description: M.Comm. , 2008 and 2009 have been characterised by a credit crunch, slowing of economic growth, high unemployment, and the period has been dubbed as one of the harshest financial eras to hit the global financial markets. The crunch undermined the existing financial regulations, including the Basil requirements and other prudential structures, and necessitated a re-evaluation and revamp of the entire financial sector regulations. This has also called for the consolidation of the market regulations which would close gaps created by the fragmentation of the current legislation. The G20 recommendations together with the IOSCO have cast a new regulatory regime that takes into account all aspects as have been unveiled by the recent global financial crisis. It has been concluded in a study undertaken in Europe in April 2009, that regulation focussed at hedge fund manager level is more effective than the legislation focussed at funds level. The study viewed hedge funds as just legal entities for the pooling of funds, and they (funds) have no economic life of their own. On the other hand, hedge fund managers are responsible for all key decisions in relation to the management of the funds. The South African’s fund-manager-level-focused-FAIS Act 37 of 2002 was implemented late in 2007 and managers had to abide by it by February 2008. The National Treasury of South Africa, as well as the Financial Services Board is currently working on a legislation that will seek to regulate hedge funds in addition to the current hedge fund manager regulation. The discussions are ongoing. The results of the survey indicate that the South African hedge fund managers view the cost associated with compliance to be far greater than the benefits of regulations. Nevertheless, they view regulation as crucial. The behaviour of the fund managers seem not to have changed after regulation, however, according to Smith (2008:1), it is possible that hedge fund managers could have factored in their expectations of regulation long before the FAIS Act became law.
- Full Text: