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1993 SNA Update Information - Retained earnings of mutual funds, insurance companies, and pension funds

Issue description
Issue description in [English] | [French] | [Russian] | [Spanish]
In the 1993 SNA, retained earnings of an entity are generally treated as the income and saving of the entity, rather than the owner. However, exceptions are made for life insurance companies, pension funds and foreign direct investment companies, where there is an imputed outflow to the policyholders, beneficiaries, or owners (respectively), with an equal financial account inflow from them. TheESA 95 introduces a similar treatment for mutual funds by imputing a distribution of retained earnings to the investors and a subsequent reinvestment in the fund. Should the SNA follow this treatment to have a more consistent treatment of various forms of collective investment schemes?
Corresponding papers (Click on icon to see document in either pdf or word format)
AEG papers:Posted on 23/01/2006Click here to see pdf documentClick here to see word documentReport on e-discussion on Retained Earnings of Mutual Funds, Insurance Corporations and Pension Funds
 Posted on 03/01/2006Click here to see pdf documentClick here to see word documentRetained earnings on mutual funds, insurance corporations and pension funds
 Posted on 15/08/2005Click here to see pdf documentClick here to see word documentRetained earnings of mutual funds
 Posted on 15/08/2005Click here to see pdf documentClick here to see word documentRetained earnings of mutual funds and other collective investment schemes
 
AEG summaries:Posted on 07/04/2006Click here to see pdf documentClick here to see word documentRetained earnings of mutual funds, insurance corporations and pension funds
 Posted on 30/09/2005Click here to see pdf documentClick here to see word documentRetained earnings on mutual funds and other collective investment schemes
Statistics
Number of AEG recommendations:2
Number of country comments:45
Number of expert comments:none
Corresponding AEG Meetings
The issue was discussed at the following meetings:
July 2005, Jan/Feb 2006
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