Title: Inflation and Investments, with Focus on Inflation-linked Bonds.Investors face many types of risks when allocating assets in a portfolio, e.g. volatility and inflation risk. Inflation risk will mainly affect investments in the long perspective. This thesis will examine those risks that an investor is commonly exposed to when allocating assets in a portfolio and in particular inflation-linked risk and how to eliminate it. We examine the correlation between different assets and inflation to determine the assets? ability to hedge inflation risk.

Denna uppsats utgörs av en jämförande studie vars mål var att utröna huruvida åtta stycken utvalda investmentbolag på Stockholmsbörsen hade varit ett konkurrenskraftigt alternativ som sparform eller inte med avseende på risk och avkastning. Detta jämfört med SIX Return Index och den riskfria räntan under en tidsperiod på tio år, 2001-01-01 till 2010-12-31.Syftet med undersökningen var att den i slutändan skulle mynna ut i generella slutsatser kring investmentbolag som sparform utifrån de data som hämtats in från de berörda investmentbolagens hemsidor.Författarna kunde efter avslutad undersökning dra slutsatsen att investmentbolagen historiskt sett hade klarat sig mycket bra och kunnat uppvisa resultat som varken marknaden eller den riskfria räntan var i närheten av. Även om vissa av investmentbolagen hade presterat sämre än jämförelsemåtten så var dock den samlade bilden att de som grupp hade varit ett mycket fördelaktigt investeringsalternativ. Detta med en genomsnittlig totalavkastning som överträffade index med drygt åtta procent.  .

Background: There has been an increase in savings and investment in recent years along with an increased interest in responsible investments. Ethical mutual funds has developed and gained increasingly popularity.Aim: The aim of the study is to examine if ethical mutual funds are an equivalent alternative to traditional mutual funds in terms of return, risk and risk-adjusted return on the Swedish stock market.Theory: Beta, Jensen's Alpha, Sharpe ratio, Treynor ratio, and Modern Portfolio Theory.Method: Quantitative survey method, a statistical study.Conclusion:The study concludes that there is no significant difference between ethical and conventional mutual funds in terms of return, risk and risk-adjusted return. The small differences that exist between the two fund groups are in favor of the ethical fund group, indicating that funds is a comparable investment option compared to traditional mutual funds..

The aim of this study was to examine how individuals with disability pension reason about a return to work. Action theory, as presented by Berglind, was used as theoretical approach. Qualitative interviews were conducted with five individuals who have disability pension due to mental illness. The respondents describe how they weigh benefits and disadvantages against each other. The main reason for a return to work is economical.

The purpose of this paper is to examine and analyze past development of mutual funds in large and small mutual fund companies and see if there are any differences between these two segments. Limitations on the number of funds have been made by choosing Nordic mutual fund companies that invest in emerging markets over an 11-year period. The study is made on 66 mutual funds managed by 13 mutual fund companies in which the segment of small fund companies includes seven fund companies with assets under management less than 100 billion SEK and the segment of large mutual fund companies includes six fund companies with assets under management more than 400 billion SEK. In the comparison of the segments the Sharpe ratio has been used to calculate the risk-adjusted return. The study shows small differences of the risk-adjusted return between the segments.

Background: In 1999 the Swedish pension system was reformed with an aim to create a stable and high return on pension assets. First, Second, Third and Fourth general pension funds, hereby referred to as AP1-AP4, had an important part in the reform. AP1-AP4, also called the buffer funds, was assigned to secure long-term, big parts of the pension capital. The funds objective is by law, to manage the fund's assets in a manner that provides maximum benefit for the state pension. The funds will also invest pension assets with an overall low level of risk while achieving a sustainable high return.Aim: The purpose of this study is to investigate whether the First-Fourth AP-Funds is meeting its objectives regarding Risk and return according to Swedish law.

This paper analyses how Swedish fine-art oil paintings sold at auctions has performed as a monetary investment during the period autumn 1985 until spring 2006. An average price technique as well as a hedonic regression technique, applied to a sample of 19 213 auction sales, is used to construct price indices. The indices show somewhat different results, which is explained by the inability of the average price model to adjust for relative differences in quality between periods. The hedonic regression model on the other hand captures this effect, why the hedonic index is applied in a financial return model. By adjusting for transaction cost, the financial return of an average investment in paintings is calculated.

As a consequence of a turbulent financial market with recurring recessions, the Basel regime was developed, an institutional change with the purpose to create enhanced financial stability through increased capital requirements and increased scrutiny of internal procedures. The Basel regime is an often recurring element in social debates where various aspects are discussed, one of which is whether it maintains its purpose to secure financial stability or whether it is cost effective, and if not, who gets affected by these potential costs.The majority of previously conducted research within this area agrees with the opinion that changes in the regulatory framework within the financial markets, such as the Basel regime, has led to reduced risk of bankruptcy for the banks which has contributed to increased global financial stability. However, research illustrates that these types of changes in the regulatory framework impose a financial burden leading to contradictions in the division of these costs between costumers and shareholders. This dissertation has been conducted from a shareholders perspective, out of which the study ?s three hypothesis has been created from.The data in this study is built upon the stock price from the three largest available banks? shares (based on total assets), in the 26 countries which are represented in the Basel committee from (2007) to (2013).

Scania?s discount rate - the return requirement of investments - refers to Scania?s WACC or weighted average cost of capital. The capital markets return requirement on equity and the credit market interest cost of borrowing is weighted to become the single discount rate, the WACC. The purpose of this study is to investigate which asset pricing model of APT and CAPM Scania should use in their WACC calculations. The company now uses a group WACC of 11 percent which is used in all company levels.

Purpose: The purpose of this study is to investigate how three banks country funds are performing relative to each other in regard to Risk and return. And to find out if there is any underlying factor that may have affected the stock exchange in the different countries.Methodology: The study is based on secondary data and will apply the quantitative method, based on a deductive approach. The sample consists of three major Swedish banks and from them we have selected three country funds. The calculation formulas that have been applied are: Sharpe ratio, standard deviation and Arithmetic Average.Conclusion: The Writers concluded that Sweden funds had the highest yield to lowest risk in both periods in all three major banks. We have also concluded that the underlying factors affecting a country fund.

Background: The devolopment in the exchange market has attract a large number of investors. The information flow is extensive and it might be hard to follow the dynamic market. Some investors therefore choose to place their capital in a stock portfolio which is manged by a professional firm with no influence from the capital owner, this management is called discretionary managing. Purpose: the purpose of the thesis is to examine the working methods and the rationality regarding the management of the discretionary portfolios. The purpose is also to try to examine whether there is a relation between the selected risk, return and fees.

Background: Mutual funds have become an important part of the Swedish deposit market. Savings in mutual funds add up to almost 20 percent of the households'assets. When the pension reform is carried out all employees are going to have savings both in mutual and bond funds. But only if the fund overperforms the market it is worth investing. Purpose: The purpose of this study is to explore if Swedish mutual funds have generated higher returns than market portfolio in the late nineties.

The purpose of the thesis has been to explore the use of hedge fund styles when constructing portfolios of hedge funds (i.e. funds of hedge funds). The central question is if the use of hedge fund styles can significantly explain and improve risk adjusted returns (characterized by Sharpe ratios). The study has been done in collaboration with Optimized Portfolio Management AB who desire further knowledge and evaluation of hedge fund styles for their fund of hedge funds.To be able to create successful ex ante portfolios we have explored various prediction models for both Risk and return. Our findings indicate that return prediction is problematic using simple models such as regression since the risk exposure of the indices appear to change significantly over time.

Purpose: The study examines the risk a rising from the acquisition of shares, and its relation to the expected return. We would like to see how a high-risk portfolio is related to a low-risk portfolio. Although studying the portfolios annual performance.Theory: The theories that have been used in the study are, Capital asset pricing model, CAPM and portfolio theory.Method: The study is based on a quantitative method, the time interval is from 2008 to 2010.The annual reports, historical stock prices for companies and the index are used to perform calculations based on the essay theories.Conclusion: The beta value has positive liner correlation with the expected return. When there are bad times in the world, the companies are negatively affected regardless of industry. The Portfolios developed in the same direction during the time period..

Purpose: The study examines the risk a rising from the acquisition of shares, and its relation to the expected return. We would like to see how a high-risk portfolio is related to a low-risk portfolio. Although studying the portfolios annual performance.Theory: The theories that have been used in the study are, Capital asset pricing model, CAPM and portfolio theory.Method: The study is based on a quantitative method, the time interval is from 2008 to 2010.The annual reports, historical stock prices for companies and the index are used to perform calculations based on the essay theories.Conclusion: The beta value has positive liner correlation with the expected return. When there are bad times in the world, the companies are negatively affected regardless of industry. The Portfolios developed in the same direction during the time period..