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One-Year Returns and the Degree of Risk
Published online by Cambridge University Press: 18 August 2016
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.
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- Copyright © Institute and Faculty of Actuaries 1969
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