Search results for: gold mutual funds

Authors: Abimbola Adedeji, Ahmad Shauqi Zubir

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This paper examines the profitability and risk between investing in gold exchange traded funds (ETFs) and gold mutual funds compares to gold prices. The main focus in determining whether there are similarities or differences between those financial products is the tracking error. The importance of understanding the similarities or differences between the gold ETFs, gold mutual funds and gold prices is derived from the fact that gold ETFs and gold mutual funds are used as substitutions for investors who are looking to profit from gold prices although they are short in capital. 10 hypotheses were tested. There are 3 types of tracking error used. Tracking error 1 and 3 gives results that differentiate between types of ETFs and mutual funds, hence yielding the answers in answering the hypotheses that were developed. However, tracking error 2 failed to give the answer that could shed light on the questions raised in this study. All of the results in tracking error 2 technique only telling us that the difference between the ups and downs of the financial instruments are similar, statistically to the physical gold prices movement.

Keywords: gold etf, gold mutual funds, tracking error

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Authors: Sonali Agarwal

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The investor perception about investment avenues is affected to a great degree by the current happenings, within the country, and on the global stage. The influencing events can range from government policies, bilateral trade agreements, election agendas, to changing exchange rates, appreciation and depreciation of currency, recessions, meltdowns, bankruptcies etc. The current research attempts to discover and unravel the effect of various macroeconomic variables (crude oil price, gold price, silver price and USD exchange rate) on the Indian mutual fund industry in general and the chosen funds (Axis Gold Fund, BSL Gold Fund, Kotak Gold Fund & SBI gold fund) in particular. Cointegration tests and Vector error correction equations prove that the chosen variables have strong effect on the NAVs (net asset values) of the mutual funds. However, the greatest influence is felt from the fund’s own past and current information and it is found that when an innovation of fund’s own lagged NAVs is given, variance caused is high that changes the current NAVs markedly. The study helps to highlight the interplay of macroeconomic variables and their repercussion on mutual fund industry.

Keywords: cointegration, Granger causality, impulse response, macroeconomic variables, mutual funds, stationarity, unit root test, variance decomposition, VECM

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Authors: Matthew Morey, Aron Gottesman

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This paper examines the relationship between mutual fund governance and the activeness of equity mutual funds. Using a fund’s corporate culture as a proxy for its governance and controlling for other variables, we find that funds with the better governance are significantly more active than other funds. Further, we find the probability of finding a highly active fund increases significantly as the governance of the fund improves. We also find some evidence that the probability of finding a closet index fund increases as the governance of the fund declines. These results demonstrate that mutual fund governance should be considered carefully when making mutual fund investment decisions.

Keywords: active, share, mutual funds, economics

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Authors: Sheng-Ching Wu

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This paper examines the interaction between mutual fund performance and portfolio turnover. Active trading could affect fund performance, but underperforming funds could also be traded actively at the same time to perform well. Therefore, we used two-stage least squares to address with simultaneity. The results indicate that funds with higher portfolio turnovers exhibit inferior performance compared with funds having lower turnovers. Moreover, funds with poor performance exhibit higher portfolio turnover. The findings support the assumptions that active trading erodes performance, and that fund managers with poor performance attempt to trade actively to retain employment.

Keywords: mutual funds, portfolio turnover, simultaneity, two-stage least squares

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Authors: Anna Paola Micheli, Anna Maria Calce, Loris Di Nallo

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Sustainable finance identifies the process that leads, in the adoption of investment decisions, to take into account environmental and social factors, with the aim of orienting investments towards sustainable and long-term activities. Considering that the topic is at the center of the interest of national agendas, long-term investments will no longer be analyzed only by looking at financial data, but environmental, social, and governance (ESG) factors will be increasingly important and will play a fundamental role in determining the risk and return of an investment. Although this perspective does not deny the orientation to profit, ESG mutual funds represent sustainable finance applied to the world of mutual funds. So the goal of this paper is to verify this attitude, in particular in the energy sector. The choice of the sector is not casual: ESG is the acronym for environmental, social, and governance, and energy companies are strictly related to the environmental theme. The methodology adopted leads to a comparison between a sample of ESG funds and a sample of ESG funds with similar characteristics, using the most important indicators of literature: yield, standard deviation, and Sharpe index. The analysis is focused on equity funds. Results that are partial, due to the lack of historicity, show a good performance of ESG funds, testifying how a sustainable approach does not necessarily mean lower profits. It is clear that these first findings do not involve an absolute preference for ESG funds in terms of performance because the persistence of results is requested. Furthermore, these findings are to be verified in other sectors and in bond funds.

Keywords: mutual funds, ESG, performance, energy

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Authors: Michelo Obrey

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Traditionally, mutual funds have long been esteemed as stand-alone entities in the U.S. However, the prevalence of the fund families’ affiliation to financial conglomerates is eroding this striking feature. Mutual fund families' affiliation with financial conglomerates can potentially be an important source of superior performance or cost to the affiliated mutual fund investors. On the one hand, financial conglomerates affiliation offers the mutual funds access to abundant resources, better research quality, private material information, and business connections within the financial group. On the other hand, conflict of interest is bound to arise between the financial conglomerate relationship and fund management. Using a sample of U.S. domestic equity mutual funds from 1994 to 2017, this paper examines whether fund family affiliation to an investment bank help the affiliated mutual funds deliver superior performance through private material information advantage possessed by the investment banks or it costs affiliated mutual fund shareholders due to the conflict of interest. Robust to alternative risk adjustments and cross-section regression methodologies, this paper finds that the investment bank-affiliated mutual funds significantly outperform those of the mutual funds that are not affiliated with an investment bank. Interestingly the paper finds that the outperformance is confined to holding return, a return measure that captures the investment talent that is uninfluenced by transaction costs, fees, and other expenses. Further analysis shows that the investment bank-affiliated mutual funds specialize in hard-to-value stocks, which are not more likely to be held by unaffiliated funds. Consistent with the information advantage hypothesis, the paper finds that affiliated funds holding covered stocks outperform affiliated funds without covered stocks lending no support to the hypothesis that affiliated mutual funds attract superior stock-picking talent. Overall, the paper findings are consistent with the idea that investment banks maximize fee income by monopolistically exploiting their private information, thus strategically transferring performance to their affiliated mutual funds. This paper contributes to the extant literature on the agency problem in mutual fund families. It adds to this stream of research by showing that the agency problem is not only prevalent in fund families but also in financial organizations such as investment banks that have affiliated mutual fund families. The results show evidence of exploitation of synergies such as private material information sharing that benefit mutual fund investors due to affiliation with a financial conglomerate. However, this research has a normative dimension, allowing such incestuous behavior of insider trading and exploitation of superior information not only negatively affect the unaffiliated fund investors but also led to an unfair and unleveled playing field in the financial market.

Keywords: mutual fund performance, conflicts of interest, informational advantage, investment bank

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Authors: Muhammad Tahir

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Purpose The purpose of the study is to find anchoring bias behavior in mutual fund return with its parent firm performance in Pakistan. Research Methodology The paper used monthly returns of equity funds whose parent firm exist from 2011 to 2021, along with parent firm return. Proximity to 52-week highest return calculated by dividing fund return by parent firm 52-week highest return. Control variables are also taken and used pannel regression model to estimate our results. For robust results, we also used feasible generalize least square (FGLS) model. Findings The results showed that there exist anchoring biased in mutual fund return with its parent firm performance. The FGLS results reaffirms the same results as obtained from panner regression results. Proximity to 52-week highest Xc is significant in both models. Research Implication Since most of mutual funds has a parent firm, anchoring behavior biased found in mutual fund with its parent firm performance. Practical Implication Mutual fund investors in Pakistan invest in equity funds in which behavioral bias exist, although there might be better opportunity in market. Originality/Value Addition Our research is a pioneer study to investigate anchoring bias in mutual fund return with its parent firm performance. Research limitations Our sample is limited to only 23 equity funds, which has a parent firm and data was available from 2011 to 2021.

Keywords: mutual fund, anchoring bias, 52-week high return, proximity to 52-week high, parent firm performance, pannel regression, FGLS

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Authors: Chutikarn Sriviboon

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The objectives of this research were to study the operation of the Labor Fund and to investigate the needs for money and assistance from Thai laborers both from within the system and out of the system and to compare between the assistance from domestic and international funds. The population of this study included three labor groups: group one was laborer in the system who were the members of saving cooperative, group two was laborer in the system who were not the members of saving cooperative, and group three was laborer who were not in the system. This was a mixed research of quantitative and qualitative methods. The findings can be categorized into four parts. First, the labor fund was beneficial to Thai laborers by giving access to government funds but the weakness was found to be poor public relations. Second, the labor funds should extend their assistance to laborer in the system who was not the members of saving cooperative. Third, the comparison between domestic labor funds and international labor funds revealed that there were no international funds which provided assistance the same way as Thai labor funds. Finally, there was a need to improve the management of labor funds and to provide long term assistance to Thai labors.

Keywords: effectiveness, quality, labor funds, service

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Authors: Ratna Siti Khodijah, Mirzam Abdurrachman

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Gold is recovered from gold ores. Within the ores, there are not only gold but also several types of precious metals. Copper, silver, and platinum group elements (ruthenium, rhodium, palladium, rhenium, osmium, and iridium) are metals commonly found in the ores. These metals combine to form an ore because they have the same properties. It is due to their position in periodic-system-of-elements are near to gold. However, the presence of mercury in every gold ore has not been mentioned, even though it is located right next to gold in the periodic-system-of-elements and they are located in the same block, d-block. Thus, it is possible that mercury is contained in the ores. Moreover, the elements of the same group with mercury—zinc and cadmium—sometimes can be found in the ores. It is suspected that mercury can not be detected because the processing of gold ores usually using fire assay method. Before the ores melting, mercury would evaporate because it has the lowest boiling point of all precious metal in the ores. Therefore, it suggested doing research on the presence of mercury in gold ores by CVAAS method. The results of this study would obtain the amount of mercury in gold ores that should be purified. So it can be produced economically if possible.

Keywords: boiling point, d-block, fire assay, precious metal

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Authors: Yanick Blaise Ketchaya, Taofa Zhou

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The type of primary source of gold deposit can be explored by using the study of trace element analysis of placer gold which is a valuable exploration tool. Au-bearing deposits are investigated through the placer gold, which is an important indicator mineral. The hydrothermal fluid interacting with diverse geological settings exerts an important function on the chemical composition of gold. Consequently, alluvial gold particles from the placer deposits within the Gamba district in northern Cameroon were examined by an electron probe microanalyzer (EPMA) to show discriminant chemical signatures. The gold grains from a different locality show the same trace element composition, which appears to be in a solid solution in Au. These trace element compositions, contained in gold grains, indicate a homogeneous source. The placer gold particles have significant chemical characteristics (low Ag content), consistent with a mesothermal source. The gold particle signatures in the Gamba district, with high Te and Bi contents, reflect the chemical characteristics of the felsic host rock superimposed on the chemical signature of the hydrothermal fluid.

Keywords: hypogene source, Northern Cameroon, placer gold, trace element

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Authors: Bin Wang, Yong Xu, Honggang Qu, Rongmei Liu, Zhenji Gao

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Based on the geodynamic environment, basic geological characteristics of minerals and so on, gold deposits in China are divided into 11 categories, of which tectonic fracture altered rock, mid-intrudes and contact zone, micro-fine disseminated and continental volcanic types are the main prospecting kinds. The metallogenic age of gold deposits in China is dominated by the Mesozoic and Cenozoic. According to the geotectonic units, geological evolution, geological conditions, spatial distribution, gold deposits types, metallogenic factors etc., 42 gold concentration areas are initially determined and have a concentrated distribution feature. On the basis of the gold exploration density, gold concentration areas are divided into high, medium and low level areas. High ones are mainly distributed in the central and eastern regions. 93.04% of the gold exploration drillings are within 500 meters, but there are some problems, such as less and shallower of drilling verification etc.. The paper discusses the resource potentials of gold deposits and proposes the future prospecting directions and suggestions. The deep and periphery of old mines in the central and eastern regions and western area, especially in Xinjiang and Qinghai, will be the future key prospecting one and have huge potential gold reserves. If the exploration depth is extended to 2,000 meters shallow, the gold resources will double.

Keywords: gold deposits, gold deposits types, gold concentration areas, prospecting, resource potentiality

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Authors: Fatima Ammari, Meriem Chenouf

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Synthesis of gold nano particles has attracted much attention since the pioneering discovery of the high catalytic activity of supported gold nano particles in the reaction of CO oxidation at low temperature. In this research field, we used Na-montmorillonite for gold nanoparticles stabilization; different loading percentage 1, 2 and 5%. The gold nano particles were obtained using chemical reduction method using NaBH4 as reductant agent. The obtained gold nano particles Au-mont stabilized in Na-montmorillonite were used as catalysts for reduction of 4-nitrophenol to aminophenol with sodium borohydride at room temperature. The UV-Vis results confirm directly the gold nano particles formation. The XRD and N2 adsorption results showed the formation of gold nano particles in the pores of montmorillonite with an average size of 5 nm obtained on samples with 2%Au-mont. The gold particles size increased with the increase of gold loading percentage. The reduction reaction of 4-nitrophenol into 4-aminophenol with NaBH4 catalyzed by Au-Na-montmorillonite catalyst exhibits remarkably a high activity; the reaction was completed within 9 min for 1Au-mont and within 3 min for 2Au-mont.

Keywords: chemical reduction, gold, montmorillonite, nano particles, 4-nitrophenol

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Authors: Yue Xu

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This paper establishes the fund manager’s capital raising ability as an important managerial skill that fund firms exploit to generate higher firm revenues. Fund firms reallocate fund managers with high capital raising ability to other funds with large outflows. Investors demand the capital raising ability of managers and reward it by investing more capital despite lower future alphas. A team with a larger experience difference between reallocated managers and existing managers attracts more capital inflows, suggesting that there is a synergy effect on the fund manager’s capital raising ability.

Keywords: mutual fund, manager, fund firm, reallocation, revenue

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Authors: Gerald Abdesaken, Thomas O. Miller

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This paper analyzes the performance of gold as a safe-haven investment. Assuming high market volatility as an impetus to seek a safe haven in gold, the return of gold relative to the stock market, as measured by the S&P 500, is tracked. Using the Chicago Board Options Exchange (CBOE) volatility index (VIX) as a measure of stock market volatility, various criteria are established for when an investor would seek a safe haven to avoid high levels of risk. The results show that in a vast majority of cases, the S&P 500 outperforms gold during these periods of high volatility and suggests investors who seek safe haven are underperforming the market.

Keywords: gold, portfolio management, safe haven, VIX

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Soam Prakash, Namita Soni

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The synthesis of metallic nanoparticles is an active area of academic and more significantly, applied research in nanotechnology. Currently, nanoparticle research is an area of intense scientific interest. Silver (Ag) and Gold (Au) nanoparticles (NPs) have been the focus of fungi and plant based syntheses. Silver and gold nanoparticles are nanoparticles of silver and gold. These particles are of between 1 nm and 100 nm in size. Silver and gold have been use in the wide variety of potential applications in biomedical, optical, electronic field, treatment of burns, wounds, and several bacterial infections. There is a crucial need to produce new insecticides due to resistance and high-cost of organic insecticides which are more environmentally-friendly, safe, and target-specific. Synthesizing nanoparticles using plants and microorganisms can eliminate this problem by making the nanoparticles more biocompatible. Here we reviewed the mosquitocidal and antimicrobials activity of silver and gold nanoparticles using fungi, plants as well as bacteria.

Keywords: nano gold, nano silver, Malaria, Chikengunia, dengue control

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Authors: Fatma Gülden Şi̇mşek, Osman Meli̇h Can, Mehmet Yumak, Bora Gari̇pcan, Yekta Ülgen

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In this study, the impedance spectroscopy is used as a detection tool in order to characterize surface coating with graphene oxide. Gold electrodes are produced by standard lithography procedures and then coated with graphene oxide using self-assembly method. The impedance of redox solution through bare gold electrodes and graphene oxide coated gold electrodes is measured in the low and high frequency range. The graphene oxide coating reduces the impedance value of the gold electrode and this reduction is distinguishable in the low-frequency range.

Keywords: bioimpedance, electrode characterization, graphene oxide, gold electrodes, impedance spectroscopy

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Authors: Oluwasanmi Teniola, Abraham Adeleke, Ademola Ibitoye, Moshood Shitu

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To establish an economical and efficient process for the recovery of gold metal from refractory gold ore obtained from Esperando axis of Osun state Nigeria, the adsorption of gold (III) from aqua reqia leached solution of the ore using bagasse nanoparticles has been studied under various experimental variables using batch technique. The extraction percentage of gold (III) on the prepared bagasse nanoparticles was determined from its distribution coefficients as a function of solution pH, contact time, adsorbent, adsorbate concentrations, and temperature. The rate of adsorption of gold (III) on the prepared bagasse nanoparticles is dependent on pH, metal concentration, amount of adsorbate, stirring rate, and temperature. The adsorption data obtained fit into the Langmuir and Freundlich equations. Three different temperatures were used to determine the thermodynamic parameters of the adsorption of gold (III) on bagasse nanoparticles. The heat of adsorption was measured to be a positive value ΔHo = +51.23kJ/mol, which serves as an indication that the adsorption of gold (III) on bagasse nanoparticles is endothermic. Also, the negative value of ΔGo = -0.6205 kJ/mol at 318K shows the spontaneity of the process. As the temperature was increased, the value of ΔGo becomes more negative, indicating that an increase in temperature favors the adsorption process. With the application of optimal adsorption variables, the adsorption capacity of gold was 0.78 mg/g of the adsorbent, out of which 0.70 mg of gold was desorbed with 0.1 % thiourea solution.

Keywords: adsorption, bagasse, extraction, nanoparticles, recovery

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Authors: Tarek Sedki

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Madari gold mine is delineated by latitudes 22° 30' 29" and 22° 32' 33" N and longitudes 36° 24' 03" and 35°11' 44" E. Geologically, Madari rock units are classified into dismembered ophiolites, arc volcanic assemblage, syntectonic metagabbro-diorites and Mineralized quartz diorite and granodiorite. Deposition of gold in area occurred as a direct result of weathering of nearby gold-bearing veins. Main concentrations of gold are supposed to ensue close to the bed rock. Nevertheless, the several shallow channel-fill features covering lag deposits, arising throughout the alluvial fan sequence would definitely contain a percentage of the finer gold due to the limited washing and sorting capacity of the uncommon flood events. Gold deposits arise as disseminated and separate gold with limited pyrite, arsenopyrite and chalcopyrite everywhere veins in the wall rocks and lode gold deposits in quartz veins. In places, the wall rocks, in near district of the quartz vein, are grieved strong silicification, chloritization and pyritization as a result of a metasomatic alteration due to purification of external hydrothermal fluids. Quartz veins are mostly steeply dipping and display banding features and frequently sheared and brecciated.

Keywords: Madari gold mine, placer deposits, southern eastern desert, gold mineralization, quartz veins

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Authors: K. L. Kabemba, R. F. Sandenberg

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The usual way to desorb gold is by elution with a hot concentrated alkaline solution of sodium cyanide. The high temperature is necessary because the dielectric constant of water decreases with increasing temperature hence the electrostatic forces between charcoal and the gold cyanide complex decreases. High alkalinity and a high concentration of cyanide are necessary for gold desorption because both OH- and CN- ions are preferentially adsorbed. The rate of elution increases with increasing anion concentration but decreases with increasing cation concentration that means the rate of elution passes through a maximum as the concentration of the eluting salt (NaCN, for example) is increased. The anion that gives the best results, the cyanide ion, decomposes fairly rapidly at elevated temperatures (40% in 6 hours, 90% in 24 hours at 95°C).

Keywords: caustic, cyanide, gold, temperature

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Authors: Fatima Ammari, Meriem Chenouf

Abstract:

Synthesis of gold nanoparticles (AuNPs) has attracted much attention since the pioneering discovery of the high catalytic activity of supported gold nanoparticles in the reaction of CO oxidation at low temperature. In this research field, we used montmorillonite pre-acidified under gentle conditions for AuNPs stabilization; using different loading percentage 1, 2 and 5%. The gold nanoparticles were obtained using chemical reduction method using NaBH4 as reductant agent. The obtained gold nanoparticles stabilized in acid-activated montmorillonite were used as catalysts for reduction of 4-nitrophenol to aminophenol with sodium borohydride at room temperature The UV-Vis results confirm directly the gold nanaoparticles formation. The XRD N2 adsorption and MET results showed the formation of gold nanoparticles in the pores of preacidified montmorillonite with an average size of 5.7nm. The reduction reaction of 4-nitrophenol into 4-aminophenol with NaBH4 catalyzed by Au°-montmorillonite catalyst exhibits remarkably a high activity; the reaction was completed within 4.5min.

Keywords: gold, acid-activated montmorillonite, nanoparticles, 4-nitrophenol

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Authors: Della Saddam Housseyn

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Gold, the quintessential noble metal, is one of the most popular metals today, given its ever-increasing cost in the international market. The Amesmessa gold deposit is one of the gold-producing deposits. The first step in our job is to analyze the ore (considered rich ore). Mineralogical and chemical analysis has shown that the general constitution of the ore is quartz in addition to other phases such as Al2O3, Fe2O3, CaO, dolomite. The second step consists of all the leaching tests carried out in rolling bottles. These tests were carried out on 14 samples to determine the maximum recovery rate and the optimum consumption of reagent (NaCN and CaO). Tests carried out on a pulp density at 50% solid, 500 ppm cyanide concentration and particle size less than 0.6 mm at alkaline pH gave a recovery rate of 94.37%.

Keywords: cyanide, DRX, FX, gold, leaching, rate of recovery, SAA

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Authors: Olaniyi Awe, Adelana R. Adetunji, Abraham Adeleke

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Field observation revealed a lot of artisanal gold mining activities in Ilesa gold belt of southwestern Nigeria. The possibility of alluvial and lode gold deposits in commercial quantities around this location is very high, as there are many resident artisanal gold miners who have been mining and trading alluvial gold ore for decades and to date in the area. Their major process of solid gold recovery from its ore is by gravity concentration using the convectional panning method. This method is simple to learn and fast to recover gold from its alluvial ore, but its effectiveness is based on rules of thumb and the artisanal miners' experience in handling gold ore panning tool while processing the ore. Research samples from five alluvial gold ore tailings dumps were collected and studied. Samples were subjected to particle size analysis and mineralogical and elemental characterization using X-Ray Diffraction (XRD) and Particle-Induced X-ray Emission (PIXE) methods, respectively. The results showed that the tailings were of major quartz in association with albite, plagioclase, mica, gold, calcite and sulphide minerals. The elemental composition analysis revealed a 15ppm of gold concentration in particle size fraction of -90 microns in one of the tailings dumps investigated. These results are significant. It is recommended that heaps of panning tailings should be further reprocessed using other gold recovery methods such as shaking tables, flotation and controlled cyanidation that can efficiently recover fine gold particles that were previously lost into the gold panning tailings. The tailings site should also be well controlled and monitored so that these heavy minerals do not find their way into surrounding water streams and rivers, thereby causing health hazards.

Keywords: gold ore, panning, PIXE, tailings, XRD

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Authors: Soumaya Ben Kheilifa, Dorra Mezzez Hmaied

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We propose two approaches to examine whether European hedge fund managers can time market liquidity. Using a sample of 1616 European hedge funds, we find evidence of liquidity timing. More importantly, this ability adds economic value to investors. Thus, it represents valuable managerial skill and a major source of European hedge funds’ performance. Also we show that the majority of these funds demonstrate liquidity timing ability especially during liquidity crisis. Finally, it emerged that our main evidence of liquidity timing remains significant after controlling for market timing and volatility timing.

Keywords: european hedge funds, liquidity timing ability, market liquidity, crisis

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Authors: Itulelo Matiyabu Imaja, Manoj Maharaj, Patrick Ndayizigamiye

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Lack of transparency in public funds management is observed in many African countries. The DR Congo is among the most corrupted countries in Africa, and this is due mainly to lack of transparency and accountability in public funds management. Corruption has a negative effect on the welfare of the country’s citizens and the national economic growth. Public funds collection and allocation are the major areas whereby malpractices such as bribe, extortion, embezzlement, nepotism and other practices related to corruption are prevalent. Hence, there is a need to implement strong mechanisms to enforce transparency in public funds management. Many researchers have suggested some control mechanisms in curbing corruption in public funds management focusing mainly on law enforcement and administrative reforms with little or no insight on the role that ICT can play in preventing and curbing the corrupt behaviour. In the Democratic Republic of Congo (DRC), there are slight indications that the government of the DR Congo is integrating ICT to fight corruption in public funds collection and allocation. However, such government initiatives are at an infancy stage, with no tangible evidence on how ICT could be used effectively to address the issue of corruption in the context of the country. Hence, this research assesses the role that ICT can play for transparency in public funds management and suggest a framework for its adoption in the Democratic Republic of Congo. This research uses the revised Capability model (Capability, Empowerment, Sustainability model) as the guiding theoretical framework. The study uses the exploratory design methodology coupled with a qualitative approach to data collection and purposive sampling as sampling strategy.

Keywords: corruption, DR congo, ICT, management, public funds, transparency

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Authors: Rebecca Thombre, Aishwarya Borate

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Chemical synthesis of nanoparticles produces toxic by-products, as a result of which eco-friendly methods of synthesis are gaining importance. The synthesis of nanoparticles using plant derived extracts is economical, safe and eco-friendly. Biostabilized gold nanoparticles were synthesized using extracts of Garcinia indica. The gold nanoparticles were characterized using UV-Vis spectrophotometry and demonstrated a peak at 527 nm. The presence of plant derived peptides and phytoconstituents was confirmed using the FTIR spectra. TEM analysis revealed formation of gold nanopyramids and nanorods. The SAED analysis confirmed the crystalline nature of nanoparticles. The gold nanoparticles demonstrated antibacterial and antifungal activity against Escherichia coli, Staphylococcus aureus, Bacillus subtilis, Aspergillus niger and Pichia pastoris. The cytotoxic activity of gold nanoparticles was studied using HEK, Hela and L929 cancerous cell lines and the apoptosis of cancerous cells were observed using propidium iodide staining. Thus, a simple and eco-friendly method for synthesis of biostabilized gold nanoparticles using fruit extracts of Garcinia indica was developed and the nanoparticles had potent antibacterial, antifungal and anticancer properties.

Keywords: cytotoxic, gold nanoparticles, green synthesis, Garcinia indica, anticancer

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Authors: Rajat Kapoor

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Indian Real Estate sector is the second largest employer after agriculture and is slated to grow at 30 percent over the next decade. Indian cities have shown tumultuous growth since last two decades. With the growing need of infrastructure, it has become inevitable for real estate sector to adopt more organized and transparent system of investment. SPVs such as REITs ensure transparency facilitating accessibility to invest in real estate for those who find it difficult to purchase real estate as an investment option with a realistic income expectation from their investment. RIETs or real estate investment trusts is an instrument of pooling funds similar to that of mutual funds. In a simpler term REIT is an Investment Vehicle in the form a trust which holds & manages large commercial rent¬ earning properties on behalf of investors and distributes most of its profit as dividends. REIT enables individual investors to invest their money in commercial real estate assets in a diversified portfolio and on the other hand provides fiscal liquidity to developers as easy exit option and channel funds for new projects. However, the success REIT is very much dependent on the taxation structure making such models attractive and adaptive enough for both developers and investors to opt for such investment option. This paper is intended to capture an overview of REITs with context to Indian real estate scenario.

Keywords: Indian real estate, real estate infrastructure trusts, urban finance, infrastructure investment trusts

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Authors: S. Al-Sowayan

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Rogowski coils are increasingly used for measurement of AC and transient electric currents. Mostly used Rogowski coils now are with circular or rectangular cores. In order to increase the sensitivity of the measurement of Rogowski coil and perform smooth wire winding, this paper studies the effect of increasing the mutual inductance in order to increase the coil sensitivity by presenting the calculation and simulation of a Rogowski coil with equilateral hexagonal shaped core and comparing the resulted mutual inductance with commonly used core shapes.

Keywords: Rogowski coil, mutual inductance, magnetic flux density, communication engineering

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Authors: Bijaya Kumar Sahoo

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The effect of III-V nitride semiconductors on performance of a graphene-on-gold surface plasmon resonance (SPR) biosensor has been investigated theoretically. III-V nitrides (AlN, GaN and InN) have been grown between gold (Au) and graphene layers. The sensitivity and performance of the biosensor have been computed for with and without semiconductors. Due to superior electronic and optical properties, III-V nitrides demonstrate high sensitivity and performance over Si and Ge. The enhancement of evanescent electric field due to III-V nitrides have been computed and found highest for InN. The analysis shows that for a high-sensitive imaging biosensor the required optimal thickness of gold, InN and graphene are respectively 49 nm, 11 nm and 0.34 nm for the light of wavelength =633 nm (red He-Ne laser). This study suggests that InN would be a better choice for fabrication of new imaging SPR biosensors.

Keywords: SPR biosensor, optical properties, III-V nitrides, sensitivity, enhancement of electric field, performance of graphene gold SPR biosensor

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Authors: Oossama Tabbabi, Mondher Labidi, Fethi Choubani, J. David

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Modern wireless communication systems require compact design, low cost and simple structure antennas to insure reliability, agility, and high efficiency characteristics. This paper presents a microstrip antenna array designed for 8 GHz applications. To reduce the mutual coupling effects, a Z shape metamaterial structure was imprinted in the microstrip antenna array composed of two elements. Simulation results show the improvement of mutual coupling by adding Z shape metamaterial structure to the antenna substrate. The proposed structure reduces mutual coupling by 19 dB. The simulation has been performed by using HFSS simulator.

Keywords: antenna array, compact design, modern wireless communication, mutual coupling effects

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