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One-Year Returns and the Degree of Risk

Published online by Cambridge University Press:  18 August 2016

J. R. Hemsted
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Extract

In the early days of actuarial science investments were selected with the emphasis on capital security, with maximum interest as a secondary consideration. In such conditions pure interest represented almost the whole of the investment return and it was natural that interest should be regarded as a stable element in actuarial calculations, while risk arose almost entirely under the mortality heading.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 95 , Issue 1 , June 1969 , pp. 19 - 77
Copyright
Copyright © Institute and Faculty of Actuaries 1969

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