Why Due Diligence Is Broken, and How 18 CIOs Would Fix It
Step one: CYA mode should stand for ‘Cover Your Assets.’
Risk
Real Asset Write-Downs Hit Dallas Credit Rating
More revisions are anticipated as the underfunded police and fire pension battles to improve its health.
UK Pension Insures £5B in ‘Umbrella’ De-risking Deal
An industrial giant’s pension fund has struck a groundbreaking arrangement involving two insurers and billions worth of liabilities.
CalPERS Hunts New Chief Risk Officer
The US’ biggest pension is searching for a new risk chief, Sweden’s AP3 has appointed one, and a Power 100 member has added an advisory role to his CV.
The Difficulty of Being Right Twice
Investors shouldn’t try to pick stocks based on what they think might happen elsewhere, argues AQR founder Cliff Asness.
Pension Risk Transfers Climb to $260B
Increasing longevity risk will lead to further adoption of de-risking in North America, according to Prudential.
The DB Touch for Defined Contribution
A legacy pension plan has plenty to offer its DC replacement, according to Acatel-Lucent’s CIO.
The True Cost of Active Management
Better-than-even chances of underperformance prove more costly than manager fees, a study finds.
Investors Demand Answers over Emissions Lobbying
In the wake of the Volkswagen emissions scandal, investors are demanding greater transparency from manufacturers.
The Five Dimensions of Quality
Ask Cliff Asness, Ken French, or Benjamin Graham to define ‘quality’, and you would hear three different answers.
ESG Still Not a Priority for CIOs
Growing awareness of ESG is not yet reflected in investment decision-making, according to Hermes Investment Management.
JC Penney Seals Buy-In for $5B Pension
The retail chain takes a significant amount of pension risk off the table at minimal cost.
Longevity Improvements Hit the Brakes
We have stopped getting older—at least for the moment—says the UK’s Institute and Faculty of Actuaries.
Brewery Seals £2.4B Longevity Swap
Aviva enters the longevity-hedging arena for the first time in a deal with Heineken’s UK pension.
Risk Parity’s Liquidity Challenge
Falling trading volumes in fixed income could cause significant losses in risk parity strategies—but analysts argue the effects have been overplayed.