For exchange-traded funds, those index-fund substitutes ideal for long-term investors, the average holding time is 2.5 days.
[ 23] Although recent findings suggest that Uganda has slightly decreased its commitment to the health sector (from 9.7% of government spending in 2004 2005 to 8.3% in 2007 2008), the Global Fund at least has tried to avoid the extent to which donor funding substitutes for domestic resources.
The public generally views money funds as substitutes for bank accounts.
Greece should have been tackled sooner, with a larger bailout fund to substitute for a part of public debt and to bring it down to 60 percent of gross domestic product, he said, with both public and private creditors sharing the burden.
Eric Posner and Glen Weyl, two law professors at the University of Chicago, do a good job of breaking out the implications over at Slate Competition among mutual funds cannot substitute for competition among corporations.
The latter parts — the rest of the company — provided the collateral for the Fed's initial loans, and eventually TARP funds were substituted for the Fed resources to provide the company with a better capital base rather than Fed loans.
Thus, industry competition and the public pension fund monitoring are substitutes.
Result: In last month's issue of Fidelity Investor, I detailed my substitute fund, T. Rowe Price Int'l Discovery, but as noted, that fund is only available for purchase directly through T. Rowe Price.
The fund will not substitute state-run pension systems (also known as first pillar pensions), but will provide supplementary benefits financed through employer contributions and private pension plans for individuals (so-called second and third pillar pensions).
In March, Zhou's call for the International Monetary Fund to create a substitute for the dollar as the reserve currency of choice prompted President Barack Obama and Treasury Secretary Timothy Geithner to issue defenses of the dollar's strength.
Remember, the federal fund is designed to substitute for court-ordered damages.
