Pension Funds & Economic Renewal

allocation amortization amount average banks benefit borrower business development investing CALIFORNIA LIBRARY capital gaps capital limited partnerships capital market co-op contributions corporate bonds costs debt development-oriented investment direct placement diversification dollars earnings economic effects efficient employee enterprises equity investments ERISA evaluating example expected return fiduciary GNMA GPMs graduated payment mortgage guaranteed higher housing cooperatives in-house income increase industry inflation institutions insurance companies interest rate investment managers investment policy investment vehicles investors issues legal list lender less limited equity liquidity loans million monthly payment mortgage-backed securities multifamily negative amortization participants pension fund investment pension investment percent pools private placements problem programs prudent prudent man rule public market public pension funds public retirement systems purchase real estate requirements residential risk level SBIC secondary market sectors securities share Small Business smaller sources subsidies systematic risk trustees UNIVERSITY OF CALIFORNIA venture capital limited