When approaching the latter part of an employee's life, the percentage of wages received in CPF contribution would be reduced from 37% to 16.5%, with 9% of the contribution coming from the employer and a contribution of 7.5% by the employee when belonging to an age range of 60-65. Empl...
The SMB and HML factors for non-US based funds are constructed from stock market data to exclude the contribution of the size effect and the BE/ME effect. The results show that volatility timing is one of the factors contributing to the excess return of funds. However, funds’ volatility-...
The SMB and HML factors for non-US based funds are constructed from stock market data to exclude the contribution of the size effect and the BE/ME effect. The results show that volatility timing is one of the factors contributing to the excess return of funds. However, funds’ volatility-...