Cliff Asness: The Case for Leverage
AQR’s outspoken founder has argued in favour of (well-managed) leverage despite the strategy falling out of favour post-crisis.
Risk
Time to Hedge? Japan’s Pension Doesn’t Think So
The Government Pension Investment Fund hasn’t factored in a stronger yen to its investment strategy.
Moody’s Predicts Pension Funding Level Declines
Reporting season is unlikely to bring good news for retirement funds, the ratings agency has warned.
PRT Activity Pipeline to Swell in Next Five Years
A UK energy company has insured £2 billion of longevity risk, while a survey shows that half of major pension funds could conduct a de-risking exercise by 2020.
PPF Appoints Chief Risk Officer
A former Royal Bank of Scotland and ABN Amro risk management chief takes on a “crucial” role at the UK’s DB lifeboat fund.
How to Bankrupt a Plan Sponsor (Hint: Not with an Underfunded DB Plan)
A specific exposure common in DC plans—but almost unheard of for corporate pensions—most strongly predicts future financial distress, researchers have found.
The Great Deflation Delusion
Deflation is a modern invention—and investors need not be terrified of it, according to one eminent economist.
How To Survive 2015 as an Alternatives Manager
Risk management should be the focus of hedge fund and private equity managers in 2015, Deloitte has said.
Moody’s Warns Canada’s Caisse over Infrastructure
By taking on public projects the pension has left itself open to new risks, the rating agency has warned.
Prudential Seals $600M PRT Deal with Timken
A vehicle components manufacturer has sealed a bulk annuity deal for 5,000 pensioners.
The John Paulson of Switzerland Is…
… Two pension funds, actually. A look at the people who got the Swiss franc shock right.
Norway Mandates Columbia with Sustainability Study
The US university will consider how the mining sector could be hit by environmental changes.
UK Pension Kicks Off De-Risking for 2015
The first major de-risking deal of the year is a longevity swap backed by Pacific Life Re.
AQR: Multiple Risk Factors Are Better than One
Investors could reap diversification benefits and higher returns from various asset classes by combining different factors, the firm has said.
Investors Demand More LDI Innovation
Despite a growing need for asset-liability matching strategies, product providers have not offered enough new thinking.