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He noted that when Poland adopted a hybrid pension system in the 1990s, under which a portion of workers' contributions were transferred from the state pay-as-you-go system to private pension funds, it was never intended to be a privatization of the pension system, because the privately managed funds remained part of the state system.
The other is to inject capital into privately managed funds.
Privately managed funds, including those run by foreign companies such as Prudential, Templeton and Zurich Financial, are growing.
But that figure does not necessarily include all of Xu's earnings from privately managed funds, the money he controlled through family members or assets stashed outside Zexi.
A consortium backed by Lazard Frères, an investment bank, had applied to OPIC to sponsor a maritime fund.Stung by criticism of their choice of existing privately managed funds, OPIC officials seem to think they can do the job better.
Privately managed funds have to meet the minimum from their own resources in the event of a shortfall.This is a step back: a truly market-oriented reform would be to weaken, or even scrap, the guarantee.
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I then discuss the advantages of providing government capital to competing privately managed funds--a strategy I have advocated in past work--and I outline the key elements that such a plan should include.
A few weeks after taking office in 2003, Mr. Romney visited a solar panel factory in Lowell, a run-down mill town north of Boston, to announce that a state trust fund would invest $9 million in five companies developing clean energy technology and place an additional $15 million in a privately managed fund to make further investments.
Sweden created a system in 1999 that siphoned off 2.5percentt of a worker's gross income and invested it in privately managed stock and bond funds.
For fund investors, such practices can rack up hidden trading costs and lure investors into funds or privately managed stock accounts with head-turning short- term gains that might dissipate over the long term.
Just imagine how hard it would be if you were rich -- the trusts to set up, the estates to plan, the charitable foundations to establish, the restricted stock, the hedge funds, the privately managed stock accounts.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com