Industry Voices

  1. Mapping a changed fixed-income world

    trueChanges in the market have resulted in a greater continuum in terms of credit quality across the fixed-income universe and increased correlations between historically disparate asset classes.

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  2. Index Wars: The effect of increased competition on ETF providers, and institutional investors

    trueAs long as investors continually look for new and better ways to invest in, track or beat the market, index providers will continually be challenged to find ways to create better, more robust benchmarks to meet customer expectations.

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  3. A call to action for improved target-date due diligence

    trueThe February 2013 Department of Labor guidance on target-date fund screening and monitoring demonstrated an industry need for greater TDF transparency and more due diligence on the part of plan fiduciaries. Guidance explicitly called for a better understanding of overall portfolio construction and ...

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  4. How can DC plans use alternatives to calm the waters as interest rates continue to rise?

    trueInterest rates are on the rise, and that is bad news for fixed-income investors. The yield on 10-year Treasury notes rose from 1.6% in early May to 2.9% in early September before receding to around 2.5% in mid-October. Because retirement plans have relied on fixed income to keep the volatility of ...

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  5. Madoff 5 years later: Still a need for transparency and technology improvements

    trueFive years ago, the massive fraud perpetrated by Bernard L. Madoff damaged the hedge fund industry's reputation and cost investors roughly $21 billion. Since then, it has become clear that independent checks — investor control of assets and transparency, in particular — could have prevented the ...

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  6. Steps to deal with emerging risks of stranded assets

    trueChanges in environmental regulations and technologies could quickly erode the value of assets in various sectors including energy and real estate. Ben Caldecott, a professor at Oxford University, offers steps to deal with emerging risks of so-called "stranded assets."

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  7. More valuable than oil

    trueThat bottle of water on your desk likely cost many times more than its equivalent in gasoline. No wonder investments in water have outperformed global indexes by a sizable margin. But first, a little background.

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  8. Implementing alternatives in DC plans

    trueMany defined contribution plan sponsors have gotten anxious about whether their participant fund lineups are optimal to helping meet their participants' future needs.

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  9. Japan: A spring awakening?

    trueThe Japanese stock market has been largely ignored by investors for the past two decades, given its long-term decline and apparently poor economic prospects since the bubble burst in the late 1980s. Starting in late 2012, the tide began to change.

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  10. Pension funds at risk: The new approach for long‑term investment

    trueThe pension fund industry is at an inflection point in its view of risk. The fear of underfunding in the face of falling returns and unfavorable demographics is leading to a greater investment in more exotic instruments. However, this is changing the risk profile to a point beyond what is normally ...

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  11. Long-term value investing requires a business owner's mindset

    trueFor disciplined investors, sustainable excess returns can be generated by investing with a longer-term time horizon, reducing speculation, and by finding shareholder-oriented management teams that allocate capital wisely.

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  12. Solutions for Detroit and public pension funds

    trueThe city of Detroit filed for bankruptcy protection on July 18 due to $18 billion in debt, of which $10 billion was pension and other post-employment benefits. Overall, public pension funds have a shortfall of more than $3 trillion if they mark to market. If TARP I was a national emergency at $800 ...

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  13. Investing in alternatives to fossil fuel stocks

    trueInstitutional investors are under increasing pressure to consider divestment from fossil fuel companies whose activities are leading contributors to climate change. While much of the attention has been focused on whether to divest, the discussion is evolving to include ways to manage a multifaceted ...

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  14. Investment implications of China's reform agenda

    trueWith the Chinese Communist Party's new leadership now in power, the next important cycle of structural reform is beginning to take shape in China.

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