Active Fund Management - Free Essay Example

Sample details Pages: 6 Words: 1917 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Analytical essay Did you like this example? 1. Introduction Investors, by their very nature, wish to achieve good returns on their investments, and that too, mostly without taking disproportionate risks. This, unfortunately, is an inherently contradictory desire as high returns are always associated with greater risk. Don’t waste time! Our writers will create an original "Active Fund Management" essay for you Create order The current economic scenario provides investors with a number of alternative avenues for growing their assets, which, inter alia, include real estate, bullion, land, art, bonds, bank deposits and of course equity. Equity markets have, in particular, fascinated investors for decades with their promise of huge profits, â€Å"killings† and stories of fortunes built from nothing. Most of these stories, which deal with huge trading profits made by individuals, are of questionable authenticity and anecdotal in nature; nevertheless, they serve to engage the attention of investors and keep their hopes alive through boom and bust times, through depressions and terrorist attacks. In recent years, the activity of investing in equity markets has become increasingly complex and most people have started trusting in the services of specialist organisations that operate through pooled funds; which contain monies contributed by numerous clients. Barclays, the leading global asset management f irm controls assets worth more than 1400 billion dollars.[1] These funds charge fees from their members and employ trained and experienced managers, who are conversant with equity and bond markets and focus solely on optimising the monies entrusted to them. Most fund managers are recruited with care, trained extensively and paid handsomely by their employers. These funds, widely known as Mutual Funds, have a variety of schemes for the benefit of their clients. Mutual funds are often categorised by investment policy. Major policy groups include money market funds; equity funds, which are further grouped according to emphasis on income versus growth; fixed-income funds; balanced and income funds; asset allocation funds; index funds; and specialized sector funds [2] It is the objective of this essay to analyse the functions and methodologies of actively managed funds, with reference to other modes of equity investment, and determine whether their inclusion, in the portfolio of risk-averse investors is desirable. Active fund management refers to a strategy wherein fund managers actively pursue objectives of outperforming specified benchmark indices; in other words they aim to provide returns better than what the market can theoretically give to investors. Active funds, like other mutual funds levy a host of charges on investors that are payable at entry, exit and during the time investors keep their money with them. Fund managers use an assortment of means to achieve their targets, which include the use of ratios, specific sector bets, short selling, use of market inefficiencies and investments in small cap stocks. In a number of cases these measures entail a significant amount of risk. Losses, if and when they occur, are borne by the investors, mostly through the Net Asset Value (NAV) mechanism. 2. The Methodology and Risks Associated with Active Fund Management Actively managed funds are among the fastest growing funds worldwide and increasing num bers of investors are putting their financial assets in the hands of fund managers. Researchers have actively worked on the various mechanisms involved in actual fund management, not only to assess their methodology but also to ascertain their level of success. Studies generally indicate that active funds rarely outperform index funds over sustained periods of time even though there may be phases when they are significantly ahead of index funds. If the cost of fund management is factored into the scheme of things there is a real possibility of the return from actively managed funds not being commensurate with the risks involved; in such case it is difficult to understand how active funds are able to attract so much capital. One school of thought states that the returns from actively managed funds depend upon the quality of fund managers and well managed active funds are able to regularly outperform index or passive funds. However, active management, when thoughtfully executed, ca n potentially add value relative to a static asset allocation implemented through index funds. Investors and their advisors can maximize a portfolio’s potential for alpha by selecting talented managers with low costs and incorporating them into the portfolio in a manner that does not sacrifice control of systematic risk factors.[3] This theory about performance of actively funded funds being dependent upon their management is empirically borne out, to a certain extent, because of the superior long-term performance of some actively managed funds. However, the variables associated with the equity market, the inherent unpredictability of individual share and collective market behavior and the extent of factors that can influence the market, and which remain beyond the forecasting ability, knowledge and control of active fund managers, make such claims untenable. Active fund managers use the help of statistical forecasting tools, fundamental and technical analysis, accepted ma rket models and established stock market theories to make their portfolio decisions. Individual judgmental decisions are seldom, if ever, used. The efficient market hypotheses and the use of the Capital Asset Pricing Model (CAPM) are some of the important theories that help in explaining the nature of equity markets Efficient Market Hypotheses The efficient market hypotheses have three sections, the weak form, the semi strong form and the strong form.[4] The weak form postulates that prices of shares reflect all information in past and current prices and transaction volumes, thus making movements unpredictable and the chances of making profitable trades just about even. The semi strong form goes a step further to state that prices have already factored in additional information such as company and industry data, as well as broad economic data including interest and currency fluctuations and inflation. These two hypotheses, in effect, state that as current share prices factor i n all the variables used in technical and fundamental analyses, future movement is inherently unpredictable and investment decisions of fund managers nothing more than shots in the dark. Finally the strong form hypothesis states that all information, public and private is reflected in share prices. This is possibly an untenable hypothesis as there may be a number of facts available with the management that may not be available with market operators. A case in point is Enron, where a great deal of inside information, available with the management, was not passed on to the market, enabling the top management to use the undisclosed facts to their advantage. While the efficient market hypotheses rule out the possibility of predictability in stocks, analysts believe this is only partially true and the hypotheses do not address the issue of market momentum, wherein groups of stocks do show the tendency for unilateral predictable movement, a fact that can be used by fund managers to inc rease returns on investments. Capital Asset Pricing Model (CAPM) The CAPM was conceptualised by William Sharpe as far back as the early sixties and has since evolved into one of the chief models for managers to control risks while taking investment decisions. It is an equilibrium model that describes the pricing of assets as well as derivatives. The CAPM is the single most used model for valuing securities and uses the Discounted Cash Flow system with risk adjusted discount rates. The CAPM postulates that entry into markets opens investors to two types of risks, systematic risks that arise from just being present in the market, and unsystematic risks, which arise from investing in particular companies. As unsystematic risks can be controlled through a process of diversification, the main risk in portfolio decisions comes from systematic risks.[5] The use of CAPM and other models like the Arbitrage Pricing Theory and Black Scholes provide alternative tools for fund managers to tackle risks and make informed and calculated investment decisions. It is evident from the foregoing analyses that most investment decisions associated with active fund management have significant elements of risk. In most cases, except when fund managers are privy to information that is unavailable to the market, the probability of profitable decision making is not more than even, and it is possible for results to go either way. The only time when chances of profits are relatively high relate to working in equity markets that have gained momentum. Even in momentum led markets, while the movement of a group of shares can be predicted, it is difficult to do the same for individual shares. 3. Analysis and Conclusion Existing theories on market hypotheses make the point that both fundamental and technical analyses do not provide credible tools to fund managers to help them in making profitable investment decisions. Profitable decisions are facilitated mostly when fund managers have access to information unavailable to the market or operate in markets that have generated significant momentum. Such opportunities however, arise very occasionally. While use of CAPM and other existing models help in constructing risk controlled portfolios, the risk of remaining in the market is permanent and cannot be eliminated. These facts are corroborated to a great extent by the fact that actively managed funds have been outperformed by indices regularly for the last fifteen years.[6] Index funds invest in a selection of equities that comprise the index. Their performances are similar to that of the index. They, however, trail the index marginally in returns because of the associated transaction costs. The costs of index funds are however much less than that of actively managed funds and with most active funds trailing the indices, the rates of return of actively managed funds are significantly lower than those of index funds. Prima facie, there appears to be very litt le reason for the risk-averse investor to invest in actively managed funds. Statistically, their average performance is poorer than that of index funds, their costs are significantly higher and risk profiles obviously greater. Risk-averse investors might still however wish to participate in the far higher returns that some actively managed funds are achieving, especially in the current climate of economic buoyancy. These investors can consider two alternatives. First, investors could choose actively managed funds that have an extended history, i.e., more than five years, of outperforming indices. This is a judgmental decision and does not guarantee future performance. Second, they could opt for funds which operate on a core and satellite system. These funds have a core portfolio of index funds that help in reducing the risk factor considerably. Deployment of the satellite funds is through active fund management and is subject to greater chances of risks and profits. This could be a suitable avenue for risk-averse investors who wish to control risks, but aim to increase their return. Bibliography Active Fund Management and Investment Strategies, 2006, Investment Management, Retrieved November 14 2006 from www.londonexternal.ac.uk//lse/lse_pdf/further_units/invest_man/23_invest_man_chap3.pdf Bodie, Z, Kane, A and Marcus, 2005, Investments, McGraw Hill, USA Burton, J, 1998, Revisiting the Capital Asset Pricing Model, Dow Jones Asset Manager, Retrieved November 12, 2006 from www.stanford.edu/~wfsharpe/art/djam/djam.htm Investment funds from Barclays Global Investors, 2006, Retrieved November 12, 2006 from https://www.bgifunds.com Levy, H, 1996, Introduction to Investments, South-Western College Publishing, USA Wicas, N, 2005, Add active ingredients to spice up passive portfolios, Professional Wealth Management, Retrieved November 12, 2006 from www.pwmnet.com/news/categoryfront.php/id/75/ASSET_ALLOCATION.html Lofthouse, S, 1994, Equity Inves tment Management: How to Select Stocks and Markets, John Wiley and Sons, Inc. Bottom of Form 1 [1] Investment funds from Barclays Global Investors, 2006, https://bgifunds.com [2] Bodie, Kane and Marcus, 2005, Investments, Ch. 4, [3] Wicas, N, 2005, Add active ingredients to spice up passive portfolios, Professional Wealth Management [4] Active Fund Management and Investment Strategies, 2006, Investment Management, [5] Burton, J, 1998, Revisiting the Capital Asset Pricing Model, Dow Jones Asset Manager [6] Wicas, N, 2005

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Essay on Ways Terror is Cultivated in Chapter 26 of Jane...

Analyse the ways Charlotte Bronte creates a sense of terror in chapter 26 and comment on how this is sustained in the context of the gothic genre elsewhere in the novel. ‘Jane Eyre’ is a 19th century novel written by Charlotte Bronte. Bronte creates a sense of terror in chapter 26 in various ways, including: the rendezvous with Bertha and Bronte’s description. The gothic style also plays a big part in numerous points in the book. â€Å"Jane Eyre† is about a young orphan girl called Jane Eyre who is neglected by her aunt and grows up to be a governess, who is well educated. She marries Mr. Rochester after a series of events. In chapter 26, Jane Eyre is preparing for her wedding. Mr. Rochester seems anxious, he wants to get to the†¦show more content†¦Ã¢â‚¬Å"Day of judgement when the secrets of all hearts shall be disclosed†, this phrase normally refers to death but Rochester’s day of Judgement is already upon him in another way. It is ironic as Rochester’s day of judgement is that day as if he gets married he will have two wives. When the two â€Å"strangers† enter the church and say â€Å"the marriage cannot go on†, the reader is not very shocked as those two people were mentioned several times. And when Rochester responds to the situation by saying â€Å"Proceed†, it shows Rochester wasn’t really shocked either. He was expecting this to happen, which explains his earlier behaviour. Briggs, one of the â€Å"strangers†, who is a solicitor, says â€Å"Mr Rochester has a wife now living†, this is the first time it is mentioned that Mr Rochester has a wife, though it had been foreshadowed earlier in the novel when Jane hears laughing in the 3rd floor of Thornfield hall. In Thornfield Hall lives Bertha Rochester, the wife of Mr. Rochester. Mrs. Rochester is the mysterious person Jane heard laughing earlier in the novel. At the time the evil, bizarre laughing created terror as the laughing was not normal laughing. The cackling sounded â€Å"ireful†. So when Jane is alone and hears the laughing the reader is filled with terror as Jane is filled with terror too. Bertha is the opposite of Jane. Rochester says Jane is â€Å"as fair a lily†, this shows Jane is pure. In Victorian times women are traditionally supposed to be morally pure. Jane is a

Aladdin Movie Analysis - 1096 Words

Aladdin Film Essay Everyone in life has a goal or task that they want to accomplish. From working long hard hours on a job, to staying up late trying to finish a project everyone goes through a hard time achieving what they really want. The main characthater in the film â€Å"Aladdin† displayed desire to achieve his goal by going through a challenging and dangerous quest.The main character in the film â€Å"Aladdin† is a young man named Aladdin who is poor with a big goal. He has a sidekick named Abu who is his pet monkey. They both want to live in a palace, but are far off of their goal because they struggle to survive are not financially stable. One day Aladdin meets a princess and falls in love, but is later locked in a dungeon. An old man†¦show more content†¦This showed how Aladdin is determined to turn his life around because of his determination he believes can make his dream come true. He wanted to be with the princess and live the life he dreamed of an d took the opportunity to escape the dungeon that ended up very dangerous with a great reward, the magic lamp. But along with great power comes great responsibility, and Aladdin is obsessed with his goal in mind that he becomes greedy by having the lamp. The genie is unleashed and becomes friends with Aladdin. Aladdin enters the palace and is greeted by the sultan and Jasmine, but she does not recognize him. Aladdin takes Jasmine on a magic carpet ride and when they are back at the palace Jafar is mind controlling the Sultan and Aladdin notices and breaks his magic staff leading to Jafar being banned from the palace and his anger building up and plots to get rid of Aladdin. One afternoon Jafars bird pretends to be the Princess leading Aladdin out of the room where the lamp is and Jafars sidekick the bird grabs the lamp and Aladdin is forced to fight Jafar for the lamp and the country. 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n Cold Blood Death Penalty Essay Example For Students

n Cold Blood: Death Penalty Essay Capital Punishment has been part of the criminal justice system since theearliest of times. The Babylonian Hammurabi Code(ca. 1700 B.C.) decreed deathfor crimes as minor as the fraudulent sale of beer(Flanders 3). Egyptianscould be put to death for disclosing the location of sacred burialsites(Flanders 3). However, in recent times opponents have shown the death penalty to beracist, barbaric, and in violation with the United States Constitution ascruel and unusual punishment. In this country,although laws governing theapplication of the death penalty have undergone many changes since biblical times, the punishment endures , andcontroversy has never been greater. A prisoners death wish cannot grant a right not otherwise possessed. Abolitionists maintain that the state has no right to kill anyone; . The rightto reject life imprisonment and choose death should be respected, but itchanges nothing for those who oppose the death at the hands of the state. The death penalty is irrational- a fact that should carry considerable weightwith rationalists. As Albert Camus pointed out, Capital punishment.hasalways been a religious punishment and is reconcilable with humanism. Inother words, society has long since left behind the archaic and barbouscustoms from the cruel eye for an eye anti-human caves of religion- another factor that shouldraise immediate misgivings for freethinkers. State killings are morally bankrupt. Why do governments kill people to showother people that killing people is wrong? Humanity becomes associated withmurderers when it replicate their deeds. Would society allow rape as thepenalty for rape or the burning of arsonists homes as the penalty for arson?The state should never have the power to murder its subjects. To give thestate this power eliminates the individuals most effective shield againsttyranny of the majority and is inconsistent with democratic principles. Family and friends of murder victims are further victimized by statekillings. Quite a few leaders in the abolishment movement became involvedspecially because someone they loved was murdered. Family of victimsrepeatedly stated they wanted the murderer to die. One of the main reasons- inaddition to justice- was they wanted all the publicity to be over. Yet. if it wasnt for the sensationalismsurrounding an execution, the media exposure would not have occurred in thefirst place. Murderers would be quietly and safely put away for life withabsolutely no possibility for parole. The death penalty violates constitutional prohibitions against cruel and unusual punishment. The grotesque killing of Robert Harris by the state of California on April 21,1992, and similar reports of witnesses to hangings and lethal injections should leave So 3doubt that the dying process can be- and often is -grossly inhumane, regardless of method(Flanders 16). The death penalty is often used for political gain. During his presidential gain, President Clinton rushed home for the Arkansasexecution of Rickey Ray Rector, a mentally retarded, indigent black man. Clinton couldnt take the chance of being seen by voters as soft on crime.Political Analysts believe that when the death penalty becomes an issue in a campaign, the candidate favoringcapital punishment almost inevitably will benefit. Capital punishment discriminates against the poor. Although murderers comefrom all classes, those on death row are almost without exception poor andwere living in poverty at the they were arrested. The majority of death-rowinmates were or are represented by court-appointed public defenders- and the state is not obligated to providean attorney at all for appeals beyond the state level. The application of capital punishment is racist. About 40 percent ofdeath-row inmates are black, whereas only 8 percent of the population as awhole are black(Flanders 25). In cases with white victims, black defendantswere four to six times more likely to receive death sentences than whitedefendants who had similar criminal histories. Studies show that the chance for a death sentence is up tofive to ten times greater in cases with white victims than blackvictims(Flanders 25). In the criminal justice system, the life of a whiteperson is worth more than the life ofa black person. .u4137a997a09b7b9d885dc9072f54127b , .u4137a997a09b7b9d885dc9072f54127b .postImageUrl , .u4137a997a09b7b9d885dc9072f54127b .centered-text-area { min-height: 80px; position: relative; } .u4137a997a09b7b9d885dc9072f54127b , .u4137a997a09b7b9d885dc9072f54127b:hover , .u4137a997a09b7b9d885dc9072f54127b:visited , .u4137a997a09b7b9d885dc9072f54127b:active { border:0!important; } .u4137a997a09b7b9d885dc9072f54127b .clearfix:after { content: ""; display: table; clear: both; } .u4137a997a09b7b9d885dc9072f54127b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u4137a997a09b7b9d885dc9072f54127b:active , .u4137a997a09b7b9d885dc9072f54127b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u4137a997a09b7b9d885dc9072f54127b .centered-text-area { width: 100%; position: relative ; } .u4137a997a09b7b9d885dc9072f54127b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u4137a997a09b7b9d885dc9072f54127b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u4137a997a09b7b9d885dc9072f54127b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u4137a997a09b7b9d885dc9072f54127b:hover .ctaButton { background-color: #34495E!important; } .u4137a997a09b7b9d885dc9072f54127b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u4137a997a09b7b9d885dc9072f54127b .u4137a997a09b7b9d885dc9072f54127b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u4137a997a09b7b9d885dc9072f54127b:after { content: ""; display: block; clear: both; } READ: The Caucasian Chalk Circle Questions by Nicole Essay The mentally retarded are victimized by the death penalty. Since 1989, when the Supreme Court upheld killing of the mentally retarded, atleast four such executions have occurred. According to the Southern Center forHuman Rights, at least 10 percent of death row inmates in the United Statesare mentally retarded(Long 79). Juveniles are subject to the death penalty. Since state execution ofjuveniles also became permissible in the decision cited above, at least fivepeople who were juveniles when their crimes were committed have executed(Long79). Innocent people can-and have been- executed. With the death penalty errorsare irreversible. According to a 1987 study, 23 people who were innocent ofthe crimes for which they were convicted were executed between 1900 and1985(Long 79). Until human judgement becomes infallible, this problem alone isreason enough to abolish the death penalty at the hands of the state morededicated to vengeance than to truth and justice. Executions do not save money. There are those who cry that we, the taxpayers,shouldnt have to support condemned people for an entire lifetime in prison-that we should simply eliminate them and save ourselves time and money. Thetruth is that the cost of state killing is up to three times the cost oflifetime imprisonment(Long 80). Judges and others are reluctant- as they should be- toshorten the execution process for fear that hasty procedures will lead to theexecutions of more innocent people. The death penalty has been imposed most for murders committed during thecourse of another felony. Aggravating circumstances for murder are defined inthe applicable death penalty statute. Circumstances considered for murderinclude:-The crime was particularly vile, atrocious, or cruel. -There were multiple victims. -The crime occurred during the commission of another felony. -The victim was a police or correctional officer in the line ofduty. -The offender was previously convicted of a capital offense or violent crime. -The offender directed an accomplice to commit the murder or committed themurder at the direction of another person. (Flanders 12)In the novel, In Cold Blood by Truman Capote, the main characters Dick and Perry were guilty of several of the circumstances that eventually ledto their demise:-The multiple victims included all four of the Clutter family. -The event occurred during an attempted robbery. -Both were former inmates and had previous dealings with the law. -Dick had chosen Perry for his instinct as a Natural Born Killer. Further,it seems that both Dick and Perry fell almost directly under thecommon background of one convicted of death. The death penalty is flawed inmany facets. Juries in rural counties are more likely to impose the death penalty than those in urban areas. Dick and Perrywere convicted in Garden City, a small to moderate sized town. Both Dick andPerry were unemployed, poor, white criminals whose actions wrecked havoc notonly on the remaining Clutter family and relatives, but on the entire town ofHolcomb and surrounding areas. This only justifies and reinforces the points stated abovethat capital punishment is biased, racist, and is harmful not only to theoffenders themselves, but to the entire community. Opposition to the death penalty finally acheived its goal when in 1972 theSupreme Court struck down death penalty laws, finding fault not with thetheory, but with the method. However, all was lost when four years later, thedecision was once more revised and ruled the death penalty once more legal. Death row will continue to expand. It is almost certain that the rising levelof executions will be widely condemned. The future of capital punishment mayfinally come down to the question of expense. A single capital trial now costsmillions of dollars. The enormous volume of continuing appeals strain both federal and state courtsystems. Unless workable solutions are found to the practical difficultiesinvolved in the administration of the death penalty. American societyeventually may decide to significantly restrict or even abandon capital punishment. .u343f1507bc962adf1fbc4667b0b44bef , .u343f1507bc962adf1fbc4667b0b44bef .postImageUrl , .u343f1507bc962adf1fbc4667b0b44bef .centered-text-area { min-height: 80px; position: relative; } .u343f1507bc962adf1fbc4667b0b44bef , .u343f1507bc962adf1fbc4667b0b44bef:hover , .u343f1507bc962adf1fbc4667b0b44bef:visited , .u343f1507bc962adf1fbc4667b0b44bef:active { border:0!important; } .u343f1507bc962adf1fbc4667b0b44bef .clearfix:after { content: ""; display: table; clear: both; } .u343f1507bc962adf1fbc4667b0b44bef { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u343f1507bc962adf1fbc4667b0b44bef:active , .u343f1507bc962adf1fbc4667b0b44bef:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u343f1507bc962adf1fbc4667b0b44bef .centered-text-area { width: 100%; position: relative ; } .u343f1507bc962adf1fbc4667b0b44bef .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u343f1507bc962adf1fbc4667b0b44bef .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u343f1507bc962adf1fbc4667b0b44bef .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u343f1507bc962adf1fbc4667b0b44bef:hover .ctaButton { background-color: #34495E!important; } .u343f1507bc962adf1fbc4667b0b44bef .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u343f1507bc962adf1fbc4667b0b44bef .u343f1507bc962adf1fbc4667b0b44bef-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u343f1507bc962adf1fbc4667b0b44bef:after { content: ""; display: block; clear: both; } READ: The Single Emotional poeffect EssaySo 7 Works CitedFlanders, Stephen A. Capital Punishment. New York, NY: Facts on File, 1991. Long, Robert Emmet. Criminal Sentencing. New York, NY: H.W.Company, 1995.

Effectiveness of the Criminal Justice System free essay sample

The criminal justice system discuss the effectiveness of legal and non-legal measures in achieving justice. The criminal justice system within Australia is the means through which those who break rules stipulated within legislation and legal regulations are brought to justice in the form of punishment. The legal and non-legal measures implemented are applied across all aspects of crime. The legal measures include all institutions and processes enabled by law to deal with aspects of the criminal justice system. We will write a custom essay sample on Effectiveness of the Criminal Justice System or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Non-legal measures include diversionary programs such as restorative justice. The use of non-legal measure in achieving justice is generally seen when dealing with young offenders. It is used in an attempt to allow the rehabilitation and enable the reintegration of young offenders into society. Non-legal measures allow society to contribute to the criminal justice system, generating a sense of involvement resulting in satisfaction concerning the operation and procedures of the criminal justice system. The criminal investigation process is the process through which various law enforcement institutions investigate crimes committed in an attempt to prosecute the offenders and achieve some means of justice. There are both legal and non-legal measures in place, which have been implemented and contribute to the effectiveness of the criminal investigation process. Police are given powers to aid in the implementation of legislation through the Law Enforcement (Powers and Responsibilities) Act 2002 (NSW) and the Crimes (Criminal Organisations Control) Act 2009 (NSW). Police have the responsibility to protect the community and enforce the law. However there has been criticism that the passing of the Crimes (Criminal Organisations Control) Act 2009 (NSW) is too harsh and provides police with powers that are too great. As technology becomes an increasingly common medium for crime police need to adapt to greater integrate technology into their processes used to combat crime. However some forms of technological advancement have been identified as unnecessary violation of privacy, such as CCTV surveillance and DNA collection. Those arrested in the belief that they have committed a crime are generally granted bail unless there are good reasons not to do so. This shows the effectiveness of the criminal investigation process in removing those who pose a significant threat to society. Citizens have an important role within the criminal investigation process by reporting crime. Various programs established assist police in identifying crime and help promote a sense of community participation in solving crimes. This includes the Crime Stoppers Program, which is a community-based program that was introduced into NSW in 1989. It is designed to allow the community to report information about criminal activity anonymously. Strategies need to be implemented to encourage the participation of citizens in reporting crime, therefore enabling a more effective system of crime identification in the criminal investigation process. Through the use of both legal and non-legal measures the criminal investigation process has been able to improve its effectiveness in achieving justice. The criminal trial process allows both the defence and prosecution to provide evidence in an attempt to prove their case, establishing whether the accused is guilty or not guilty. Once formal charges have been laid against a person, a hearing or trial of the accused will need to take place in the appropriate court. There are many different courts that allow judges and magistrates to be more specialised in the matters heard in various courts, such as family or children/young offenders. The specialisation of courts and their corresponding magistrates allows greater understanding in motive and circumstances surrounding the crime which will further heighten their ability to set an appropriate punishment that will be most effective in rehabilitating the accused. There are various rules which restrict what questions lawyers can ask and which questions must be asked by witnesses. These rules have been developed in order to try and keep the process fair to both sides and ensure consistency between trials. The implementation of legal aid ensures that poorer offenders have access to the legal system and receive a fair trial. The measures both legal and non-legal through the criminal trial process ensure that each offender receives a fair trial in which they can be correctly convicted and effectively sentenced. Furthermore, throughout sentencing and punishment various legal and non-legal measures have been implemented to ensure that sentences for those convicted are appropriate and effective to enable rehabilitation and reintegration into society and provide the community with a sense of justice and security. The provision of statutory and judicial guidelines means that limits are placed on a judge’s discretion when sentencing, thus ensuring sentencing consistency. These guidelines were established in relation to the case R v. Jurisic (1998). The defendant Jurisic, pleaded guilty to three charges of dangerous driving occasioning in grievous bodily harm. He was found under the influence of cocaine on one of these charges. He was sentences to 18 months home detention, lost his driver’s licence for one year and was put on a good behaviour bond for two years. This was through to be lenient and was appealed by the DPP. The appeal was upheld and the sentence was replaced by two years imprisonment and two years disqualification of his driver’s licence. Chief Justice Spiegelman said there was a need for a system of guidelines to increase public confidence in sentencing. The Supreme Court of New South Wales then published the sentencing guidelines as a result. The criminal trial process allows for a vast range of penalty options, allowing judges and magistrates to effectively select the most appropriate to ensure the rehabilitation of the offender and create a sense of justice amongst the community. The Crimes (Sentencing and Procedure) Act 1999 allows the court to order that a person be discharged, provided they enter into an agreement to participate in an intervention program. This is particularly effective in rehabilitating those whose crimes are arise from a severe drug or gambling addiction. It shows the community that the criminal justice system is aimed at helping those who have committed crimes to be rehabilitated in order to reintegrate into the wider community. In conclusion, the legal and non-legal measures of the criminal justice system are effective in achieving justice as they are specialised and adaptable. When issues arise relating to the effectiveness, the state government and courts and able to quickly resolve the issue, as seen with the implementation of sentencing guidelines. The regulations and rules allow for consistency throughout the trial and sentencing process, providing the accused with a fair trial and the community with a sense of security and achievement of justice.