(a) The key determinants of investment decisions in the public sector are:- legal, political and financial factors.
Show the importance of each determinant when developing investment policies and procedures in the public sector.
(b) The determinants of public pension plan return can be appraised from two perspectives, namely:-
- ?Fund Value Maximisation, and
- ?Public Choice Theory.
Prepare a comparative analysis of both perspectives in explaining managerial behaviour in the investment of public pension monies.