The Financial Express -- Expressions

This page contains Editorial and Op-Ed articles

Wednesday, December 24 1997

Letters to the Editor

Risk-adjusted performance evaluation

Ever since modern risk adjusted performance evaluation came into the picture the claim that active management yields excess returns has come under a cloud. The performance evaluation compares an active managed fund against an alternative "benchmark portfolio" build out of two parts: (a) money in the bank and (b) money in an index fund.

Not the right focus

The secretary general of the Standing Conference of Public Enterprises (SCOPE), MA Hakeem was recently quoted as saying that the government should exercise adequate caution in the appointment of non-functional directors of PSUs. He particularly objected to those persons being given the jobs who have a "personal agenda" of their own.

IMF on east Asia

Predictably, the IMF's update on World Economic Outlook is thick with doomsaying: sharply reduced GDP growth rates in east Asia with a possibility that these might be even lower than currently projected. Significantly, the IMF economist who released WEO said he expected east Asian countries to return to average growth levels "in a year or so".

The service-tax conundrum

Not the right focus

IMF on east Asia

The Index -- Sabic

Risk-adjusted performance evaluation

Sleep-walking to disaster

The year is expected to end with 8% export growth