Adding Risk to De-risk
For pension systems with deficits to close, it’s time to dump “safe haven” bonds, specialists argue.
Risk
How Well Do You Measure Risk?
Forecasts based on typical techniques are “indistinguishable from random noise” for shorter time horizons, according to a Dutch central bank researcher.
The Psychology of a Sell-Off
Investors’ “irrational exuberance” leads to overvaluation—the resulting market correction leads to opportunity.
Investors Press ExxonMobil for Climate Change Transparency
A coalition of institutional shareholders representing $300 billion in assets has demanded ExxonMobil keep up with its competitors and disclose how it is preparing for a low-carbon future.
How to Erase Your Deficit in 15 Years
A low growth environment doesn’t mean pensions can’t wipe out deficits by 2030—but it will take more imagination, Redington argues.
The World’s Largest SWF Bans a Stock. Does It Matter?
The Norwegian sovereign fund has dropped one of the world’s 10 biggest smartphone manufacturers over “severe corruption” concerns.
U. California’s Chair on How to Hire a Great CIO
Paul Wachter—portfolio adviser to Arnold Schwarzenegger and LeBron James—reflects on his transformative tenure at UC’s $100 billion fund.
Timing Is Right for Mark-to-Market, Russell Says
Ford’s switch to mark-to-market pension accounting—and the resulting $1.5 billion profit boost—may set off a wave of corporate followers.
Small Pension, Big Punch
A new ranking of ESG-conscious asset owners hails CalPERS, two large Dutch pensions, Norway’s sovereign fund—and a comparatively tiny British investor.
‘Majority’ of Dutch Pensions Breach Solvency Levels
Funds have less than four months to finalize deficit recovery plans.
Value, Size… & Groupthink?
Executive teams’ résumés link dramatically to stock performance, even more so than momentum, market cap, and book-to-market ratio.
More DC Menu Options, More Problems
Research shows participants save nearly $10,000 more per person when offered fewer fund choices.
Moody’s: CalPERS’ De-Risking Plan Is Still Risky
It would take the $300 billion fund nearly 20 years to cut the discount rate to 6.5%, during which asset performance could fall drastically, the ratings agency said.
L&G Dives Into Dutch De-Risking
The €200 million transaction is hailed as a “significant milestone” as the Netherlands' market begins to open up.
For Plan Sponsors, Passive Doesn’t Equal Safe
Plan sponsors have significant fiduciary obligations regardless of whether they choose active or passive management, according to Russell Investments.