Bakgrund: 1 januari 2013 kommer Direktivet (2009/138/EG) för Solvens II att implementeras. Detta kommer ske samtidigt inom Europeiska Unionen (EU) och kommer leda till en harmonisering av försäkringslagstiftning i medlemsstaterna. Tidigare svensk lagstiftning, Försäkringsrörelselagen (2010:2043), kommer med andra ord att anpassas till det nya regelverket. Regeländring kan komma att påverka svenska försäkringsbolags bedrivna kapitalförvaltning. Syfte: Syftet med studien är att undersöka om svenska försäkringsbolag utifrån rådande lagstiftning kan bedriva en, enligt finansiell teori, rationell kapitalförvaltning och om möjligheten till att bedriva en rationell kapitalförvaltning kommer att förändras i och med implementeringen av Solvens II. Genomförande: En genomgång av dagens regelverk, Försäkringsrörelselagen, samt Direktivet (2009/138/EG) för Solvens II kommer att presenteras. Utöver detta har fem stycken intervjuer med svenska försäkringsbolag genomförts. Slutsats: Dagens lagstiftning ger inte möjligheter till att bedriva en rationell kapitalförvaltning fullt ut. Solvens II kommer att förbättra försäkringsbolagens möjligheter att bedriva en rationell kapitalförvaltning. Försäkringsbolagen bedriver idag en förvaltning som till stor del kan anses vara rationell utifrån finansiell teori. Dock finns det vissa områden inom förvaltningen som skiljer sig från teorins bild. / Background: January 1, 2013, Directive (2009/138/EC) of Solvency II will be implemented. This will take place simultaneously in the European Union (EU) and will lead to a harmonization of insurance laws of the member states. Former Swedish legislation, Försäkringsrörelselagen (2010:2043), will therefore be adapted to the new framework. The rule change may affect Swedish insurance companies’ asset management. Purpose: The purpose of the thesis is to examine if Swedish insurance companies can apply rational asset management theory when Solvency II is implemented and if changes will occur in the asset management strategies. Implementation: A review of current regulations, Försäkringsrörelselagen (2010:2043), and Directive (2009/138/EC) of Solvency II will be presented. In addition, five interviews with Swedish insurance companies have been done. Conclusion: The current legislation does not provide opportunities to fully apply rational asset management. Solvency II will improve the insurance companies' ability to pursue a rational asset management. The asset management in Swedish insurance companies currently adopts strategies that to high extent comply with generally accepted financial theories. However, there are certain areas within the asset management that deviate from these financial theories.

Thesis (MPAM.) -- University of Limpopo, 2021 / The study aims to investigate challenges in implementation of asset management strategy in the Limpopo Department of Public Works, Roads and Infrastructure, in order to recommend possible alternatives to improve asset management in the department. The Department achieved qualified audit opinions on asset management from the regularity audit conducted by the Auditor General for the financial years 2013/14 to 2015/16, which indicate that there is a lack of compliance, ineffectiveness and inappropriateness of asset management systems within the Department. This study examines the effectiveness of asset management practices in the LDPWRI and to determine the challenges faced by the LDPWRI in the implementation of asset management strategy and also to recommend strategic interventions that should be undertaken to improve asset management in the department. The information obtained from the literature identified the procedure which is used to manage assets in South Africa, the implementation process of asset management, and policies applied in the LDPWRI. The research process in this study includes methods such as a qualitative and quantitative approach necessary to collect the data. Furthermore, interviews and questionnaires were used in assessing the attitude of the participants. The primary data from the participants was obtained by the researcher to understand behaviour, working conditions, and the asset management process by the employees. The data revealed various challenges that are prevalent in how the inventory, record keeping, and the implementation of the strategies are implemented. The results showed that there are major challenges in managing inventory, and the information of the inventory is not recorded. There is also poor record keeping of the inventory. Furthermore, while the employees indicated that there is asset management strategy, a few indicated that there is no asset management strategy. The recommendations include that Asset Management strategies should be communicated to all employees and easily accessible on the Intra-Net of the Department for ease of reference and consultation. Urgent drastic steps should be taken to ensure that vacancies in the Asset Management and Logistics Directorate are filled without fail and within the acceptable service standards as stipulated by DPSA.

The deregulation of the Swedish railway industry began in the late 1980s and has led to an increased number of actors operating within it, and the deregulation divided the railway industry into two areas; infrastructure and rolling stock. This thesis has investigated the main research question, How could smart contracts be applied in the Swedish rolling stock industry?, by addressing the sub-questions; Related to the implementation of contractual agreements, what current challenges are there? and How could smart contracts facilitate the challenges identified? To align the research with current concepts and changes relevant to the industry, the results have been connected to Asset Management (AM) and Entity in Charge of Maintenance (ECM). A case study has been conducted, and an abductive research approach has been used to be able to utilize both current literature and knowledge gained from the case study. The results from the conducted interviews showed that there are challenges related to; trust and transparency, the life length of the vehicles and the interest of actors and the interpretations of the contractual agreements. Further, it was discussed that there are benefits of applying smart contracts and that they could solve issues regarding transparency. The conclusion is that smart contracts could be used within this industry in several ways, initially between every two actors bound together by a contractual agreement, but later on in a vehicle ecosystem, or to follow up on KPIs or other critical conditions. / Avregleringen av den svenska järnvägsbranschen började i slutet av 1980-talet och har lett till ett ökat antal aktörer som verkar inom branschen. Avregleringen delade järnvägsbranschen i två områden; infrastruktur och “rolling stock”. Detta examensarbete har undersökt möjliga tillämpningsområden för smarta kontrakt inom den svenska rolling stock-industrin, genom att undersöka genomförandet av avtal, om det finns några utmaningar och om smarta kontrakt skulle kunna lösa dessa utmaningar. För att anpassa forskningen till aktuella koncept som är relevanta för branschen, och förändringar som sker, har resultatet kopplats till Asset Management (AM) och Entity in Charge of Maintenance (ECM). En kvalitativ fallstudie har genomförts med intervjuer. Dessutom har en abduktiv forskningsansats använts för att kunna utnyttja både aktuell litteratur och kunskap från fallstudien. Resultaten från de genomförda intervjuerna visade att det finns utmaningar relaterade till; förtroende och transparens, fordonens livslängd och aktörers intresse och tolkningarna av avtalen. Vidare diskuterades fördelarna med att tillämpa smarta kontrakt och att de skulle kunna lösa utmaningen med transparens. Slutsatsen är att smarta kontrakt skulle kunna användas inom denna bransch på flera sätt, initialt mellan varannan aktör som är bunden av ett avtal, men senare i ett fordonsekosystem, eller för att följa upp KPI:er eller andra kritiska förhållanden.

This thesis is a study about the difficulties managing software assets within larger organizations.Software Asset Management (SAM) is a fairly new practice which has started to be used byorganizations in order to track and manage software assets throughout their life cycle. Existingliterature states that organizations have challenges with the increasing complexity, which comesalong when buying software products from manufacturers. However, the lack of academicresearch, due to the rapid development of technology has been limited. The purpose of this paperis to explore the challenges that large organizations are confronted with when managing softwareassets. A mixed study approach was conducted with main focus on a qualitative approach,where five persons with mainly long experience in Software Asset Management, whereinterviewed. In addition, a survey was sent out to employees who work with IT, to capture ageneral aspect on the topic. The findings of the study include the identified challenges of SAM,which are divided in four main areas. Further, the paper highlights the importance and success ofSoftware Asset Management.

Thesis (MBA)--Stellenbosch University, 2006. / ENGLISH ABSTRACT: The change management approach followed during the installation of a new maintenance work management process (termed SAMI Stage1) in Sasol Synfuels is assessed. A framework and a set of change management principles are derived from literature relevant to the topic and are used as a basis to assess the implemented change. The concept of physical asset management is also reviewed and incorporated into the overall framework. The assessment reveals the following positive aspects of the change management process followed: • Excellent executive sponsorship throughout the implementation of SAMI Stage 1. • The use of one team of Sasol Synfuels personnel to develop the strategic plan and another team to perform the design of the new maintenance work management process has resulted in a core group of change advocates within Sasol Synfuels. • Sasol Synfuels business units were declared SAM I Stage 1 competent, which included the achievement of outcome indicators as well as behavioural changes. • The SAMI Stage 1 change is reinforced through further changes such as SAMI Stage 2, SAM PI (production initiative), as well as the creation of a new department, OPEX, to facilitate operational excellence within Sasol Synfuels. • The overall SAMI roadmap, commencing with maintenance work management, is found to be an effective vehicle to achieve the future integrated state of asset management. However, the following negative aspects of the implemented change are also highlighted: • The concept of physical asset management as the ultimate objective of the SAMI process was inadequately explained and coached to the organisation. Although maintenance work management efficiency has improved, the organisation has not made the mental transition from a cost centre mentality to a profit centre mentality. • Production personnel were initially excluded to a large extent, since SAM I Stage 1 was installed as a predominantly maintenance-focussed initiative. However, production personnel are required to play a large role in the maintenance work management process and their initial exclusion required significant stakeholder management during the advanced stages of the change. • There have not been significant changes to the recognition and reward systems in Sasol Synfuels in order to enhance the integration of specifically the maintenance and production functions. The organisation is thus still very much focused on functional excellence as opposed to the integrated concept of asset management. The effectiveness of installing a maintenance work management process first and then addressing equipment failures is also reviewed. It is concluded that this approach of firstly establishing discipline in the execution of maintenance work is indeed a viable approach. However, the overall objective of asset management must be considered from the onset and the organisation must be continuously aligned to that objective. Based on the above observations, recommendations are made on futu re Sasol implementations of maintenance work management processes. In essence there should be more focus on the concept of physical asset management before and during such an implementation. It is also recommended that a post SAM I Stage 1 project analysis should be performed (using appropriate questionnaires andlor interviews) to assess the positive and negative aspects as encountered by the organisation. These learning pOints should be documented and used for future, similar interventions. It should also be established whether the changes in behaviour and outcome are due to predominantly compliance to the work management process, or whether there is significant commitment to the process. Commitment to the process by the majority of the organisation is required to ensure sustainability there of. / AFRIKAANSE OPSOMMING: Die benadering soos gevolg ten opsigte van veranderingsbestuur gedurende die implementering van 'n nuwe instandhoudingswerk bestuursproses in Sasol Synfuels (genaamd SAM I Fase 1), word ondersoek. 'n Raamwerk en 'n stel beginsels met betrekking tot veranderingsbestuur word uit die relevante nagevorste literatuur ontwikkel en word gebruik as 'n basis waarteen die geimplementeerde verandering geevalueer word. Die beginsel van fisiese batebestuur word ook ondersoek en in die oorhoofse raamwerk geinkorporeer. Die volgende positiewe aspekte van die veranderingsbestuur proses wat gevolg was, word deur die ondersoek openbaar: • Uitstekende borgskap deur uitvoerende bestuur tydens die verloop van die implementering van SAMI Fase 1. • Die gebruik van een span Sasol Synfuels personeel om die strategiese plan te ontwikkel en 'n ander span om die ontwerp van die nuwe instandhoudingswerk bestuursproses te behartig, het gelei tot die ontstaan van 'n kern groep in die organisasie wat die verandering ondersteun. • Besigheidseenhede in Sasol Synfuels is SAM I Fase 1 bedrewe verklaar, wat die behaling van uitkomsindikators, sowel as gedragsveranderinge insluit. • Die SAMI Fase 1 verandering word versterk deur verdere veranderings soos SAMI Fase 2, SAMPI (produksie inisiatief), sowel as die daarstelling van 'n nuwe afdeling, OPEX, om operasionele uitnemendheid in Sasol Synfuels te fasiliteer. • Die algehele SAMI proses, beginnende met die bestuur van instandhoudingswerk, is effektief bevind om die toekomstige, geintegreerde toestand van batebestuur te verwesenlik. Die volgende negatiewe aspekte van die geimplementeerde verandering word egter ook uitgelig: • Die beginsel dat fisiese batebestuur die uiteindelike doelwit van die SAMI proses is, was nie voldoende verduidelik en oorgedra aan die organisasie nie, Alhoewel die effektiwiteit van instandhoudingswerk bestuur verbeter het, het die organisasie nie die paradigma skuif gemaak van 'n kostegesentreerde denkwyse na 'n winsgesentreerde denkwyse nie. • Aanvanklik was produksiepersoneel grootliks uitgesluit uit die proses, aangesien SAMI Fase 1 hoofsaaklik as 'n instandhoudingsinisiatief aangepak is. Produksiepersoneel het egter 'n groot rol om te speel in die instandhoudingswerk bestuursproses en hulle aanvanklike uitsluiting het gelei tot aansienlike bestuur van belanghebbendes gedurende die gevorderde stadiums van die verandering. • Daar is nog nie betekenisvolle veranderinge gemaak aan die vergoedings -en erkenningssisteme in Sasol Synfuels om sodoende die integrasie van spesifiek die instandhouding en produksiefunksies te bevorder nie. Daar is dus nog steeds 'n sterk fokus in die organisasie op funksionele uitnemendheid in teenstelling met die geintegreerde beginsel van batebestuur. Daar word ook gekyk na hoe effektief dit is om eers 'n instandhoudingswerk bestuursproses te installeer voordat toerustingfalings ondersoek word. Die gevolgtrekking word gemaak dat hierdie benadering om eers dissipline in die uitvoering van instandhoudingswerk daar te stel, inderdaad 'n haalbare benadering is. Die oorhoofse doelwit van batebestuur moet egter vanaf die begin oorweeg word en die organisasie moet gedurig op koers gehou word rakende daardie oogmerk. Voorstelle, gegrond op bogenoemde waarnemings, word gemaak vir die toekomstige implementering van instandhoudingswerk bestuursprosesse in Sasol. In wese moet daar meer gefokus word op die beginsel van batebestuur voor en gedurende so 'n implementering. Daar word ook aanbeveel dat 'n nabetragting gehou word rondom die implementering van SAMI Fase 1 (met behulp van gepaste vraelyste en/of onderhoude) om die positiewe en negatiewe aspekte, soos ondervind is deur die organisasie, te evalueer. Hierdie inligting moet dan gedokumenteer word en gebruik word vir toekomstige, soortgelyke intervensies. Daar moet ook bepaal word of die verandering in gedrag en resultate die gevolg is van oorwegend die navolging van die proses of toewyding aan die proses. Die meerderheid van die organisasie moet toegewyd wees aan die proses om volhoubaarheid te verseker.

Der Betrieb von prozesstechnischen Produktionsanlagen wird stetig von verschiedenen Aufgaben begleitet, zum Beispiel der Steuerung und Optimierung der Produktion und der Aufrechterhaltung der Verfügbarkeit. Alle Gewerke, die sich mit dem Zustand der Anlage und des darin ablaufenden Prozesses beschäftigen, sind auf Daten angewiesen, die in der Anlage erfasst werden. Ein Großteil dieser Daten werden für die automatische Steuerungs-, Regelungs- und Sicherheitstechnik erfasst und darin in Echtzeit verarbeitet. Apparate und anderes Equipment sind zumeist nicht mit für deren Zustandsüberwachung dedizierter Messtechnik ausgestattet. Um Qualitätsmerkmale, Anlagenzustände oder Wartungsbedarfe erkennen zu können, müssen andere in der Anlage vorhandene Daten kombiniert und in Berechnungsmodellen kondensiert werden. Diese Methodik teilt sich in unterschiedliche Schritte auf: Datenakquise, Entwurf von Auswertemodellen, Modellintegration und Auswertung von Ergebnissen mit Ableitung von Aufgaben. Die vorliegende Arbeit ordnet sich in die Softwareaspekte dieser Methodik ein. Dabei versucht sie, die zentrale Frage „Wie könnte eine Infrastruktur auf Basis von verbreiteten Standardtechnologien aussehen, welche alle Schritte des Engineeringprozesses für freie Apparatemodelle automatisieren kann?“ anhand eines Vorschlags für eine Infrastruktur zu beantworten. Es wird eine Möglichkeit dargelegt, im Betrieb ohne Änderungen am bestehenden System kontinuierlich Daten für die Weiterverwendung in Apparatemodellen auszulesen. Der Entwurf und die Implementierung von Auswertemodellen wurde mit Hilfe eines entwickelten Werkzeugs unterstützt und dadurch die Struktur der Apparatemodelle vorgegeben, um eine einheitliche Modellintegration zu ermöglichen. Die Durchführung der Modellintegration erfolgte über die automatische Auswertung von Planungsdaten. Eine auf offenen Technologien basierende Ausführungsplattform für die Bewertungsmodelle wurde implementiert. Die Auswertung von Berechnungsergebnissen wurde über die Integration der Modelle in verbreitete, für Feldgeräte vorgesehene Standardwerkzeuge ermöglicht. Diese Infrastruktur ermöglicht es den verschiedenen Gewerken des Anlagenbetreibers, generische Bewertungsmodelle auf die Apparateinstanzen in der Anlage anzuwenden, und mit deren Berechnungsergebnissen ihre Aufgaben einfacher oder besser bearbeiten zu können. Nach einer Analyse der technischen Rahmenbedingungen wurde ein Konzept zur Modellintegration entwickelt und dessen Automatisierbarkeit diskutiert. Dieses Konzept wurde prototypisch umgesetzt. Es wurden Softwarekomponenten für den Betrieb sowie Softwarewerkzeuge für die Unterstützung sowohl der Erstellung als auch der Integration von Apparatemodellen entwickelt. Anhand dieser wurde Umsetzbarkeit des Konzepts überprüft / Operating process plants goes along with different tasks, e. g. control and optimization of the production and maintaining availability of the plant. There are several subsections of operations who deal with the state of the plant and the processes it runs. They are all dependent on information which is gathered throughout the plant. Most of this data is acquired for the automatic control, regulation, and safety gear and is processed in real-time. Apparatuses and other equipment are usually not equipped with measurement devices which are dedicated to monitor their state. For being able to recognize specific quality attributes, states of the plant, or maintenance needs, the existing measurements have to be combined and condensed by calculations. This methodology can be split into the following steps: data acquisition, design of evaluation models, integration of these models, and assessment of findings including inferring actions. This thesis addresses software aspects of this methodology. It tries to answer the key question „How to build an infrastructure, which shall be based on common standard technologies, in which all steps to engineer equipment models may be automated?“ by proposing a concrete infrastructure. A technique has been designed to continuously acquire data for further processing in equipment models without any changes to existing systems. The process of design and implementation of equipment models has been supported by a purpose-built tool. This tool puts out the designed models in a uniform structure to allow uniform model integration. This integration has been automated using the plant’s engineering data. An execution platform has been developed based on open technologies. Infrastructure and model structure have been designed to easily integrate calculation results into standard tools for being able to use them in common work environments. It enables the different subsections of operations in a plant to apply generic equipment assessment models on concrete equipment instances. Using the output of the models, they shall be enabled to perform their task in an easier or better manner. The technical requirements and prerequisites have been analyzed. Using the resulting conclusions, a concept to integrate models has been developed and the options to automate it have been discussed. This concept has been implemented prototypically. This implementation includes a runtime component and two tools to support development of models and their instantiation. It has been used to prove the feasibility of the concept.

Der Betrieb von prozesstechnischen Produktionsanlagen wird stetig von verschiedenen Aufgaben begleitet, zum Beispiel der Steuerung und Optimierung der Produktion und der Aufrechterhaltung der Verfügbarkeit. Alle Gewerke, die sich mit dem Zustand der Anlage und des darin ablaufenden Prozesses beschäftigen, sind auf Daten angewiesen, die in der Anlage erfasst werden. Ein Großteil dieser Daten werden für die automatische Steuerungs-, Regelungs- und Sicherheitstechnik erfasst und darin in Echtzeit verarbeitet. Apparate und anderes Equipment sind zumeist nicht mit für deren Zustandsüberwachung dedizierter Messtechnik ausgestattet. Um Qualitätsmerkmale, Anlagenzustände oder Wartungsbedarfe erkennen zu können, müssen andere in der Anlage vorhandene Daten kombiniert und in Berechnungsmodellen kondensiert werden. Diese Methodik teilt sich in unterschiedliche Schritte auf: Datenakquise, Entwurf von Auswertemodellen, Modellintegration und Auswertung von Ergebnissen mit Ableitung von Aufgaben. Die vorliegende Arbeit ordnet sich in die Softwareaspekte dieser Methodik ein. Dabei versucht sie, die zentrale Frage „Wie könnte eine Infrastruktur auf Basis von verbreiteten Standardtechnologien aussehen, welche alle Schritte des Engineeringprozesses für freie Apparatemodelle automatisieren kann?“ anhand eines Vorschlags für eine Infrastruktur zu beantworten. Es wird eine Möglichkeit dargelegt, im Betrieb ohne Änderungen am bestehenden System kontinuierlich Daten für die Weiterverwendung in Apparatemodellen auszulesen. Der Entwurf und die Implementierung von Auswertemodellen wurde mit Hilfe eines entwickelten Werkzeugs unterstützt und dadurch die Struktur der Apparatemodelle vorgegeben, um eine einheitliche Modellintegration zu ermöglichen. Die Durchführung der Modellintegration erfolgte über die automatische Auswertung von Planungsdaten. Eine auf offenen Technologien basierende Ausführungsplattform für die Bewertungsmodelle wurde implementiert. Die Auswertung von Berechnungsergebnissen wurde über die Integration der Modelle in verbreitete, für Feldgeräte vorgesehene Standardwerkzeuge ermöglicht. Diese Infrastruktur ermöglicht es den verschiedenen Gewerken des Anlagenbetreibers, generische Bewertungsmodelle auf die Apparateinstanzen in der Anlage anzuwenden, und mit deren Berechnungsergebnissen ihre Aufgaben einfacher oder besser bearbeiten zu können. Nach einer Analyse der technischen Rahmenbedingungen wurde ein Konzept zur Modellintegration entwickelt und dessen Automatisierbarkeit diskutiert. Dieses Konzept wurde prototypisch umgesetzt. Es wurden Softwarekomponenten für den Betrieb sowie Softwarewerkzeuge für die Unterstützung sowohl der Erstellung als auch der Integration von Apparatemodellen entwickelt. Anhand dieser wurde Umsetzbarkeit des Konzepts überprüft / Operating process plants goes along with different tasks, e. g. control and optimization of the production and maintaining availability of the plant. There are several subsections of operations who deal with the state of the plant and the processes it runs. They are all dependent on information which is gathered throughout the plant. Most of this data is acquired for the automatic control, regulation, and safety gear and is processed in real-time. Apparatuses and other equipment are usually not equipped with measurement devices which are dedicated to monitor their state. For being able to recognize specific quality attributes, states of the plant, or maintenance needs, the existing measurements have to be combined and condensed by calculations. This methodology can be split into the following steps: data acquisition, design of evaluation models, integration of these models, and assessment of findings including inferring actions. This thesis addresses software aspects of this methodology. It tries to answer the key question „How to build an infrastructure, which shall be based on common standard technologies, in which all steps to engineer equipment models may be automated?“ by proposing a concrete infrastructure. A technique has been designed to continuously acquire data for further processing in equipment models without any changes to existing systems. The process of design and implementation of equipment models has been supported by a purpose-built tool. This tool puts out the designed models in a uniform structure to allow uniform model integration. This integration has been automated using the plant’s engineering data. An execution platform has been developed based on open technologies. Infrastructure and model structure have been designed to easily integrate calculation results into standard tools for being able to use them in common work environments. It enables the different subsections of operations in a plant to apply generic equipment assessment models on concrete equipment instances. Using the output of the models, they shall be enabled to perform their task in an easier or better manner. The technical requirements and prerequisites have been analyzed. Using the resulting conclusions, a concept to integrate models has been developed and the options to automate it have been discussed. This concept has been implemented prototypically. This implementation includes a runtime component and two tools to support development of models and their instantiation. It has been used to prove the feasibility of the concept.

Sweden's population is growing every year, and in parallel there is an ongoing adjustment of the trade and retail consumption, within the Nordic area. Today, the development of retail is combined with the development of grandeur shopping malls, with the purpose to attract crowds and retailers. These venues have long been essential for the commercial real estate development, both on a local and global perspective. USA and Western Europe have long been leaders in the development and the management of shopping malls. They have created new conditions, trends and possibilities for how a property owner can optimize the financial management and similar strategies. This Bachelor Thesis will study what global trends there are and in what grade these trends have affected the Swedish shopping mall market. By defining the Swedish shopping mall market, from other commercial real estates, we can review and analyse the trends and tendencies that have developed the traditional Swedish management. Moreover we will review why a foreign corporate, within ownership and management of shopping malls, would like to establish their organisation within the Swedish market. For this purpose, we will analyse the incentives and what prospects these corporates are having. We have succeeded to discover that the Swedish shopping mall market have done important changes during the last 10-15 years. There have been a distinct professionalisation of the financial management with a clear focus on emulating other foreign companies through IPO:s, minimizing the loan-to-value and having a stable dividend performance. Moreover the game rules have changed, for the Swedish retail market, due to newly developed international corporates that have established their business in Sweden. Therefore there are competing forces, between the global FDI: s and local Swedish corporates, with the most valuable locations. We have established the conclusion that many of the foreign shopping mall owners wants to expand their organisation on the Swedish market, due to clear incentives. This is for example due to a stable economic growth, transparency and the possibility to create relationships with lucrative retailers. Several Swedish companies are about to abandon the traditional Swedish management model as they become more focused on profit and economic growth, the priority is no longer just customer satisfaction and technical maintenance. Sweden has previously tried on popular global methods, without effect, but perhaps it is time to re-examine other variants of these strategies, as the Swedish market have become an attractive source of the global shopping center trade. / Sveriges befolkning växer för varje år och parallellt med detta sker en utveckling av handeln och retailkonsumtionen, i hela norden. Idag kombineras utvecklingen av detaljhandeln med storslagna köpcentrum och gallerior, för att locka till sig folkmassor och detaljister. Dessa handelsplatser har länge varit viktiga fastigheter inom samhällsbyggandet och stadsutvecklingen. USA och Västeuropa har länge varit ledande inom utveckling och förvaltning av köpcentrum genom att de har skapat nya villkor, trender och möjligheter för hur en fastighetsägare ska optimera den ekonomiska förvaltningen och andra dylika strategier. Denna kandidatuppsats kommer att studera vilka trender som finns och i vilken grad de har påverkat den svenska köpcentrummarknaden. Utifrån att avgränsa den svenska köpcentrummarknaden från andra kommersiella fastigheter, kan vi studera och analysera trender och tendenser, vilka håller på att utveckla den traditionella svenska förvaltningen. Utöver detta kommer vi undersöka varför utländska företag, inom ägande och förvaltning av köpcentrum, vill etablera sig på den svenska marknaden. Till detta ska vi analysera vilka incitament som finns och vilka framtidsutsikter dessa företag har. Vi har lyckats komma fram till att den svenska köpcentrummarknaden har gjort viktiga förändringar de senaste 10-15 åren. De har skapats en tydlig professionalisering av den ekonomiska förvaltningen för svenska företag med tydligt fokus på att efterlikna utländska aktörer genom att börsnotera företaget, försöka dämpa belåningsgraden och satsa på en stabil utdelningsfilosofi. Utöver detta har spelreglerna ändrat sig genom att större internationella företag har slagit rot på den svenska marknaden. Därmed konkurrerar de lokala respektive globala företagen, om de mest attraktiva platserna. Vi har kommit fram till att många utländska köpcentrumägare vill satsa på den svenska marknaden då det finns tydliga incitament för dessa att göra så. Denna utveckling beror till exempel på att det finns en stabil ekonomisk tillväxt, transparens på marknaden och bra möjligheter att skapa samarbeten med lönsamma detaljister. Flera svenska bolag håller på att överge den traditionella förvaltningsmodellen då dessa blir mer fokuserade på avkastning och tillväxt, de prioriterar inte längre enbart kundnöjdhet och tekniskt underhåll. Sverige har tidigare provat på populära globala metoder, utan verkan, men kanske är det dags att återpröva liknande varianter av dessa, då den svenska marknaden har blivit en attraktionskälla i den globala köpcentrumhandeln.

<p>Water infrastructure forms a critical sector of our social system and provides goods and services for public health, the natural environment, economic safety, various businesses, and government operations. In the United States (US), drinking water is supplied nationally through one million miles of pipes, most of which were installed in the early to mid-20th century with a life span of 75 to 100 years. Along with this fact, water bills which are rising faster than inflation, result in communities grappling with aging water systems, fewer water resources, and extreme weather. The federal government’s share of capital investment for water infrastructure has fallen from 31% in 1977 to 4% in 2017. Regional and state expenditure has accounted for a much larger share as federal aid for water infrastructure capital needs has declined. This has led to water rates rising to cover the costs of replacing and upgrading water infrastructure in many communities across the country. They are struggling to meet such costs through local rates and fees.</p><p>Over the next 20 years, more than 56 million new users are expected to connect to centralized treatment systems, and $271 billion is needed to meet current and future demands. However, the investment in critical water infrastructure is currently only meeting a fraction of the funding need. In 2019, the total capital spending on water infrastructure at all levels was $48 billion, while investment needs totaled $129 billion, creating an $81 billion gap. As such, the most recent American Society of Civil Engineers’ Infrastructure Report Card assigned a D to the drinking water infrastructure and a D+ to the nation’s wastewater infrastructure. Ineffectual and wasteful investment in the water sector has caused an adverse effect on grades in the infrastructure report card for water infrastructures. Moreover, this may negatively impact water-reliant sectors and water-related infrastructures due to the economic ripple effect.</p><p>This research has developed a data-driven strategic investment decision support system to close the existing water infrastructure investment gap and reduce the vulnerability of aging water infrastructure. The first phase of this study was to determine the causes affecting the grades in the infrastructure report card for drinking water and wastewater infrastructure and contributing to any latent threats and prolonged risks. It uses data-driven approaches based on analysis of existing ineffective improvement methods and recommendations. It attempts to leverage a data-driven supervised statistical learning method to capture the complex relationships between new challenges and the growing demand for water infrastructure needs. The ultimate outcome of this phase is a research approach to minimize water and wastewater vulnerability and close the investment gap to help create a paradigm shift in the current state of practice. Furthermore, improving the resiliency of and increasing investments in the water and wastewater infrastructure will lead to a resilient, efficient, and reliable water future and protect the public health of future generations.</p><p>The second phase of this study was to predict the economic benefits of additional federal support in water infrastructure among interdependent sectors within an economic system to facilitate the federal government’s share of capital investment. It conducts ripple effects analysis, which predicts the effectiveness of water infrastructure capital investment using historical economic data. It explores how federal capital investment in water infrastructure spreads economic benefits within an interdependent system. This phase was conducted at the federal level using the interindustry-macro model that analyzes macroeconomic data, including over 400 sectors. Investments that are coordinated at the federal, state, and local level will help control and stabilize rising water rates across the US.</p><p>The third phase of this study was to conduct a cost-benefit assessment in terms of private, financial, economic, and efficiency considerations using nominal and real terms to maximize the benefit of investing in the water sector and reduce the vulnerability of water infrastructures. In order to measure the costs and benefits of a strategy to maximize the efficiency of limited budgets and resources, this phase conducts a cost-benefit analysis due to the investment costs for rehabilitating and improving water infrastructures using historical economic and financial data. The long-term financial framework, including considerations of deep uncertainties so that decision-makers can understand the benefit of investing assets for an optimal level versus the cost of doing nothing and allowing the asset to run to failure is developed using the cost-benefit assessment.</p><p>Finally, a data-driven strategic investment decision support system that helps governments make water infrastructure development plans and infrastructure investment decisions in the water sector is presented. It can help governments with designing a novel system or modifying existing ineffective assessment methods and recommendations aimed at minimizing the mismatch in the water infrastructure investment gap between current spending levels and funding needs. Furthermore, minimizing the risks of ineffectual and wasteful water sector investment through rehabilitating and improving water infrastructures in a rational manner will lead to improved grades in the infrastructure report card and the resiliency of interrelated infrastructures and sectors.</p>

The asset management industry constitutes a vital part of the economy thanks to its financing role. The sector has profoundly changed since its establishment and, nowadays, changes in organization, investors’ behaviour and regulatory framework are deeply reshaping the industry. In this context, also the Italian market, which has traditionally been characterised by some distinguishing features, is being influenced by a series of modifications at both European and national level. The purpose of this paper is to analyse the Italian Asset Management industry’s structure and organisation, understand how it is evolving and grasp the factors that can affect its market to then draw implications influencing the business and operations of an asset servicer. This work divides the Italian Asset Management market into two parts, the Asset Managers segment, including collective management and discretionary mandates, and the Pension Schemes segment. These two composing parts are analysed from an Asset Servicer’s perspective, presenting data over the financial instruments they contain. The paper follows the Case Study approach employing mainly secondary quantitative data. In Italy, the distribution of Asset Management products as well as trading activities remain based on banking networks. In recent years, among collective management products, foreign-law mutual funds are the ones that grew the most. This, along with the fact that the asset servicers’ market is dominate by few specialized players operating on a global scale, puts the spotlight on asset servicers’ cross-border level of integration. Even tough discretionary mandates are struggling to recover and have grown at a slower pace, due to “MiFID II” upcoming rules, financial intermediaries will be encouraged to place these products on the market. Lastly, the Italian pension system is underdeveloped if compared to other European countries and few players own the majority of the complementary pension schemes market. The paper highlights how technology innovations, policies of the ruling governments, interest rates levels and national and communitarian regulation are the factors driving the asset management industry.