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The Assessment of Industrial Ordinary Shares

Published online by Cambridge University Press:  18 August 2016

D. Weaver  and
B. G. N. Fowler
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Extract

1. The assessment of industrial ordinary shares has not yet been discussed by the Institute. This is surprising, both in view of the fact that British insurance companies hold ordinary shares to a value approaching £1000 million and also because actuaries are playing an increasing part in the investment world. The Institute is indeed the only professional body which examines candidates for membership in investment knowledge. Hitherto the examinations have been concerned mainly with general principles, but the widening of the scope of the syllabus since the war makes it necessary that the methods by which industrial shares are assessed should be discussed. It is the purpose of this paper to provide an opportunity for such a discussion.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 86 , Issue 3 , December 1960 , pp. 243 - 295
Copyright
Copyright © Institute and Faculty of Actuaries 1960

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References

page 248 note * The files for companies registered in Scotland are kept in Edinburgh.

page 262 note † Taxation is taken at 48·75 per cent, i.e. the standard rate of income tax of 7s. 9d. in the £ plus 10 per cent profits tax.