Development Of Asset Management Research Articles

CLUSTERING OF EU MEMBER STATES BY THE LEVEL OF DEVELOPMENT OF INSTITUTIONAL INVESTOR ASSET MANAGEMENT

The financial landscape within the European Union is characterized by a significant disparity in the development of institutional investor asset management across its member states. Institutional investors, such as pension funds, insurance companies, and investment trusts, are vital in shaping financial markets and influencing economic stability. This study aims to fill the gap in the existing literature by examining the grouping of European Union member-states. The research focuses on examining key attributes, trends, and performance indicators of institutional investor asset management across various EU member-states. It utilizes data from 2017 to 2022, reflecting the average values of financial assets held by institutional investors as a percentage of Gross Domestic Product (GDP). This data provides a critical perspective on the investment landscape within the EU, particularly focusing on investment funds and insurance corporations. A notable observation from the data is the significant variance in the financial assets to GDP ratio among EU countries, with Denmark and France showing exceptionally high ratios, indicating a substantial role of institutional investments in their economies. In contrast, Lithuania and Greece demonstrate much lower ratios. This disparity is further analyzed through cluster analysis, grouping EU member-states into five clusters based on their asset management profiles. The clusters reveal distinct patterns in the distribution and development of asset management across the EU. Countries like Denmark and France, with highly developed financial markets, contrast sharply with those like Lithuania and Greece, which have less mature markets. The study highlights the influence of various factors such as economic structure, regulatory environment, and cultural attitudes towards savings and investment on these disparities. The study suggests that future research should focus on developing comprehensive policy recommendations, taking into consideration the distinct characteristics of each cluster to promote balanced economic growth and stability within the EU.

Asset management determinants of Polish universities

Purpose – The purpose of the paper is to offer insights into university asset management (AM) and describe the impact that the various determinants have on the process of university AM. The process of university AM is influenced by a range of determinants. Design/methodology/approach – A literature review and a case study were used to achieve the research objective. The case study involved two data collection techniques – interviews and document analysis. Findings – Changing conditions of state-run universities, such as decreasing number of students and a tendency to increase the proportion of scientific research activities, require flexible adjustments to the size and structure of the universities’ facility base. Reductions in government grants and increasing maintenance costs of university assets have made it necessary to manage both existing and future assets more effectively to achieve measured improvement of environmental and social performance, to fulfil strategic responsibilities and to create shared value. Research limitations/implications – The paper was limited to one practice case study. Additional cases could be studied to confirm the findings and increase the usefulness of the methodological framework and improve its application. Practical implications – Identifying the various factors that influence the process of university AM would be useful for universities and other public building owners and their decisions-makers, such as chancellors and asset managers. The experience of the Polish market also may support the development of university or public building AM in other countries. Originality/value – The process of optimising of university asset structure proposed in this paper can contribute to the better understanding and management of higher education institutions ' assets and to the greater competitiveness and efficiency of the Polish universities. The work is novel in that it provides insights into university AM and describes various determinants from an external (macro and micro) and internal (connected with the university itself) perspective.

MUNICIPAL PROPERTY ASSET MANAGEMENT – A COMPARATIVE STUDY OF UK AND RUSSIA / SAVIVALDYBĖS TURTO VALDYMAS: LYGINAMASIS JK IR RUSIJOS TYRIMAS

Property asset management is a discipline of growing significance for local government across the world. The perceived wisdom of transition countries lagging behind developed countries in the maturity of asset managent has not been tested with empirical data. An analytical framework was developed comprising models to measure why councils do asset management (rationale); how they do it (practice) and what they achieve (outcomes) and applied through a comparative study of municipalities in the UK and Russia. A weak but discernable link was found between rationale and practice but the link between practice and outcomes was unproven. Russia appeared to lag UK in its development of asset management and case studies in both countries had a consistent view of the critical success factors for effective asset management. These were strategic focus, organisation will, portfolio intelligence and an entrepreneurial culture. The research used the strength of these factors with the analysis of rational, practice and outcomes to position cases in a typology which provided a simple metric to position organisations in terms of both their maturity and development path in asset management. Santrauka Visame pasaulyje turto valdymas įgyja vis didesnę svarbą vietos valdžiai. Paplitęs požiūris, kad besivystančios šalys pagal turto valdymo brandą nuo išsivysčiusių atsilieka, pagal empirinius duomenis patikrintas dar nebuvo. Siekiant įvertinti, kodėl ir kaip tarybos valdo turtą ir ką tuo pasiekia, iš modelių buvo sudaryta analitinė sistema ir pritaikyta atliekant lyginamąjį JK ir Rusijos savivaldybių tyrimą. Nustatytas silpnas, bet pastebimas ryšys tarp loginio pagrindo ir praktikos, tačiau ryšys tarp praktikos ir rezultatų įrodytas nebuvo. Paaiškėjo, kad Rusijoje turto valdymas pažengęs mažiau nei JK, o abiejų šalių atvejo tyrimai rodo vienodus svarbiausius sėkmės veiksnius, kurie lemia veiksmingą turto valdymą. Veiksniai apima koncentruotą strategiją, organizacijos valią, protingą portfelio sudarymą ir verslumo kultūrą. Atsižvelgiant į šių veiksnių reikšmę ir pasitelkus loginio pagrindo, praktikos ir rezultatų analizę, iš atvejų sudaryta tipologija, kuri panaudota kaip paprasta matų sistema, leidžianti organizacijas suskirstyti tiek pagal jų brandą, tiek pagal turto valdymo raidos kursą.

Waternet drinking water tactical planning process

Waternet is the first Dutch water company that covers the complete water cycle and is responsible for the management of drinking water, wastewater, surface water, groundwater and safety behind dykes in Amsterdam and its environs. Based on a literature review of infrastructure asset management around the world, a Waternet asset management framework was developed. The Drinking Water division of Waternet defined in more detail which steps to undertake and which tools and methods to use to link the long-term service level to the operational activities. The selected and developed tools and methods proposed are based on identified best practices. The steps combined form the ‘tactical planning process’. In this paper the process and the current way of implementing the steps are described. The practical shortcomings between the (worldwide) best practices, the desired input and output of the different steps and reality are highlighted for each step. An overview of the main challenges for Waternet and asset management development worldwide is given.

Deregulation: Magic or Mayhem?

The uncertainties brought by deregulation have brought a decline in capital investment in the regulated sectors of the market, transmission and distribution, at a time when large amounts of assets are reaching the end of their design life. The development of asset management and performance monitoring techniques is contributing to the reduction in replacement investment.

構造物の維持管理におけるアセットマネジメントの概要とその展開

社会構造がフロー経済からストック経済に変わる現在では, 公共性が高い多くの社会資本整備事業においても, 維持管理 (Maintenance), 修繕・補修 (Repair), 改修 (Rehabilitation), 改良 (Retrofit), 更新 (Replacement) などの既設施設の保全工事費が増大する傾向にある。そこで, 社会資本ストックを有効に活用する新たなマネジメント手法の策定が望まれている。この新たなマネジメント手法として期待される, 維持管理におけるアセットマネジメンの導入の背景とその課題および構造物の維持管理の課題を, 米国や英国のこの分野における現状を紹介し, 我が国の現状と比較しながら述べる。