The Effect of Alternative Investments on the Financial Performance of Pension Funds in Kenya

Citation:
Mungai LM, Elly D. "The Effect of Alternative Investments on the Financial Performance of Pension Funds in Kenya." African development finance journal. 2017;1(2):160-181.

Abstract:

Purpose - This research focused on the effects of alternative investments on the
financial performance of pension schemes in Kenya.
Methodology - This research was descriptive and Secondary data covering a period
of 5 years, 2012-2016, and comprised a population of 442 segregated pension
schemes and from which a sample of 90 schemes was selected using stratified
sampling technique. Only data from 385 schemes was available. The remaining 57
schemes did not qualify for sampling due to incomplete data, data received did not
pass sense checks and also responses to queries were not received on time. The data
was obtained from the Retirement Benefit Authority and the Actuaries Survey from
Alexander Forbes Consulting. Diagnostic tests carried out were tests for normality,
multicollinearity and autocorrelation. They were used to test for data fitness before
any further analysis. The study also employed the use of a linear multiple regression
model to analyze the effect of alternative investments on the financial performance of
pension funds in Kenya. The tests of significance used in the study were the t-test, F

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