Equity-linked annuityhigh-water mark fee structurejump-diffusion processThis paper studies the valuation of equity-linked investment products embedded with a high-water mark (HWM) fee structure. Under the HWM fee structure, the insurance company charges threshold fees at a constant rate from the ...
New York City Water & Sewer System 2.0% Chicago Board of Education 1.7% Delta Air Lines 1.4% Puerto Rico Commonwealth Aqueduct & Sewer Authority 1.3% Energy Southeast Ala Coop Dist Energy Supply 1.3% Public Finance Authority Wisconsin 1.1% ...
The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-...
1 Das Morningstar Rating™ (Sterne-Rating) für Fonds wird für Vermögensverwaltungsprodukte (wie Investmentfonds, Variable-Annuity- und Variable-Life-Unterkonten (variable Renten- und Lebensversicherung), börsennotierte Fonds, geschlossene Fonds und separate Konten) berechnet, die...
The jackpot is paid as a 30-payment annuity; players may choose cash instead. SPANISH CHRISTMAS LOTTERY - since 1812. As measured by the total prize payout, the Christmas Lottery is considered the biggest lottery worldwide. In 2006, if all of the tickets were sold, the total amount pay...
Other financial parameters, such as the annuity factor f, are computed using Eq. (21), where rdis is the annual discount rate and n is the lifetime in years. The model was evaluated with the variables and conditions shown in Table 2. The range of conditions are based on Table 1, the...
high temperature heat exchanger, CLT is the cost of the low temperature heat exchanger, Cregen is the cost of the recuperator, Cturb is the cost of the turbomachinery, and Celec,yr is the yearly cost of electricity to power the heat pump (treated as an annuity in the discounting ...
Nuveen All Cap Energy MLP Opportunities Fund (JMLP) Nuveen Core Equity Alpha Fund (JCE) Nuveen Credit Opportunities 2022 Target Term Fund (JCO) Nuveen Credit Strategies Income Fund (JQC) Nuveen Diversified Dividend and Income Fund (JDD) Nuveen Dow 30SM Dynamic Overwrite Fund (DIAX) Nuv...
Second, when the variable annuity is preferred over the alternative investment options, the high-water mark fee structure produces the highest welfare for the policyholder. A sensitivity analysis is further conducted to show that our findings are robust under various market conditions.doi:10.1111/jori...