Industry Voices

  1. Skeptics on Japan's corporate reform beware

    trueAs we are witnessing in the current earnings season, news from Japan is turning increasingly positive. In fact Japanese corporate profit margins have recently surged to historical highs and are now nearly double their levels from 10 years ago, long before Abenomics began.

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  1. Guiding DC participants with a simplified menu

    trueMost participants in defined contribution plans are not on track to achieve retirement income adequacy. A key reason is that the investment lineups in most DC plans are structured in a way that reduces participants' likelihood of implementing well-diversified and age-appropriate investment ...

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  2. Private equity liquidity: Trickling down or bubbling up?

    trueA recent announcement by the chief investment officer of the California Public Employees' Retirement System is shining a bright light on increasing liquidity in the private equity market.

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  3. Putting a value on dollar appetite for U.S. pension executives

    trueCurrency markets have been very volatile in the past year, with the U.S. dollar exhibiting its strongest rally on a trade-weighted basis in over 10 years. For U.S. pension executives with substantial international investment portfolio exposures, the key question is whether this rally is in its ...

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  4. Releasing the third arrow

    trueRatification of the Trans Pacific Partnership will present sustained opportunities for foreign asset managers to capitalize on a resurgent Japan.

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  5. Responsible investing: In growth markets, it's common sense

    trueTo judge from various surveys, private equity funds and limited partners increasingly agree that environmental, social and governance considerations are a crucial component of their investment process and practices. To borrow from the title of a recent PricewaterhouseCoopers study, however, fund ...

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  6. Technology outsourcing without giving away the farm

    trueHow is it possible to introduce a myriad of new operational and compliance-related spending to the overall organizational structure in response to the changing regulatory environment, while at the same time reducing expenses and costs?

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  7. It's time to bust the myth that assumptions drive pension costs

    trueThere’s a lot of talk these days about public pension plans, the size of their unfunded liabilities and the level of their costs. It’s appropriate that policymakers and policy influencers focus their attention on, “What to do?”

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  8. ESG investing: momentum, barriers and drivers to action

    trueWhen it comes to factoring environmental, social and governance criteria into investment decisions, momentum keeps building in the investment community. From climate change to human rights, ESG issues matter more and more in today’s highly scrutinized stakeholder and global business environment, ...

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  9. Getting smart on smart beta

    trueAs smart beta continues to gain momentum, particularly in the institutional market, now is the time for investors to get smart on smart beta.

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  10. Diversified portfolios of hedge funds for small and large asset allocators

    trueHedge funds — and any other asset or investment strategy for that matter — should be included in a portfolio until the marginal benefits of additional investment equal the marginal costs of additional investment.

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  11. Finally, a practical solution for decomposing returns into alpha and beta

    trueFor an industry that uses the word “alpha” like it's going out of style, I find it amazing the asset management profession has made so little progress when it comes to actually trying to measure it in practice.

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  12. Estimating future costs at public pension plans: Setting the discount rate

    trueLooking more closely at the views of financial economists, it becomes clear that using an estimated rate of return to discount future pension liabilities is not misleading.

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  13. Insurers' alternative imperative

    trueAlternative investments appear in many respects to constitute, for lack of a better term, the most plausible alternative for insurance portfolios today.

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