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Meeting of the SREP Sub-Committee INVESTMENT PLAN FOR NEPAL

However, superior performance in the past does not necessarily mean that it will continue into the future. This is because superior performance may be due to either a manager’s skill or good luck. Therefore, it is interesting to understand the characteristics of funds and to know what caused the performance; this helps investors to understand how to select their fund manager. This literature survey chapter is organised as follows. Section 2.2 surveys the writings related to performance measures and empirical evidence to do with them in the developed markets. Section 2.3 surveys the literature on persistence in mutual. | CLiMATE Investment FuNds SREP SC.6 8 Rev.2 October 27 2011 Meeting of the SREP Sub-Committee Washington D.C. November 1 2011 Agenda Item 8 Investment Plan FOR Nepal Proposed Decision by SREP Sub-Committee The SREP Sub-Committee having reviewed the Investment Plan for Nepal document SREP SC.6 8 Rev.2 a endorses the Investment Plan as a basis for the further development of the projects foreseen in the plan and takes note of the requested funding of USD40 million in SREP funding from the initial allocation to Nepal. The Sub-Committee requests the Government of Nepal in the further development of the proposed projects to take into account comments submitted by Sub-Committee members by November 15 2011. b reconfirms its decision on the allocation of resources adopted at its meeting in November 2010 that all allocation amounts are indicative for planning purposes and that approval of funding will be on the basis of high quality investment plans and projects. The range of funding agreed for Nepal under the initial allocation is up to USD40 million in SREP resources c further reconfirms that a reserve from the pledges to SREP as of November 2010 has been established and that the Sub-Committee will agree on indicative allocations from the reserve to project proposals included in the investment plans once the investment plans for all six pilot countries have been endorsed and the Sub-Committee has approved criteria for allocating the reserve amount. d takes note of the estimated budget for project preparation and supervision services for projects included in the investment plan and approves a first tranche of funding for preparation and supervision services as follows a. USD370 000 for Scaling Up Small Hydro Promotion Nepal ADB b. USD370 000 for the Scaling Up Access to Electricity in Rural Nepal ADB c. USD200 000 for the Sustainable Household Energy Solutions IBRD SREP Investment Plan for Nepal ii Government of Nepal Climate Investment Funds SCALING-UP RENEWABLE ENERGY .