Letters to the Editor

  1. Challenges of delegating fiduciary management

    trueYour July 22 editorial is a useful contribution to the topic of outsourcing investment management, a technique which is relatively new in the U.S. but which has been employed more widely in Europe.

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  2. The failure of investment consulting

    trueRe: “Papers question worth of consultants,” Pensions & Investments, page 2, Sept. 30.

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  3. Errors, wrong impressions found in story

    trueThe Sept. 2 Pension & Investments article on page 2 relating to the Arizona Public Safety Personnel Retirement System's real estate values contained a number of errors and created some misimpressions which we wish to correct.

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  4. Fee description in story not accurate

    trueIn your July 19 issue of P&I Daily, the article dealing with the Arizona Public Safety Personnel Retirement System focused in part on fees paid to a PSPRS property manager, the Desert Troon Cos., which is managing a large portfolio of residential, commercial and retail properties that PSPRS ...

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  5. Fed a distraction from headwinds of debt, demographic challenges

    trueQuantitative easing can't go on forever.

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  6. Understanding pension buyout risk of plans, sponsors

    trueCiting a J.P. Morgan Asset Management report, this article suggests that purchasing a pension buyout might increase risk for the plan and its sponsor. Unless Pensions & Investments readers understand how the terms “buyout” and “risk” are used in the context of JPMAM's report, its conclusions may ...

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  7. The people behind the creation of the adjustable pension plan

    trueA front-page article in your April 29 issue was published featuring the “adjustable pension plan,” which Cheiron has been working on in concert with other professionals. The article stated, more than one time, that I was the person who conceived the adjustable pension plan concept. That is not the ...

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  8. Solving a looming threat of 401(k) loan defaults

    true“A looming threat employers face from 401(k) plan loan defaults,” Other Views, May 13:

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  9. Flaws in 'monkey business' study

    trueRE: “Monkey Business. Here's another way to build equity indexes,” Frontlines, April 15.

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  10. Disclosure of processing errors of plans not enough

    trueSurprisingly, in the settlement with ING announced in your Feb. 4 article, “ING pays $5.7 million in settlement over trading policy disclosure,” by Hazel Bradford, the Department of Labor regarded profits from 401(k) service provider processing errors as additional compensation which ING had a duty ...

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  11. S&P promotes ratings transparency

    trueWhile Standard & Poor's agrees that investors should consider a variety of factors, including their own analysis, and not make decisions solely based on credit ratings (“Credit-rating downgrade,” Feb. 18), we strongly disagree with the suggestion that S&P's ratings are or were influenced by ...

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  12. Divesting and still meeting fiduciary duty

    trueIn your Jan. 21 editorial, “Misdirected Furor,” criticizing the so-called rush to firearms divestment on the part of institutional investors, I found it curious that the two institutions cited as bucking the trend about private equity — the University of Notre Dame and the General Board of Pension ...

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  13. Some hopeful development in long/short attribution analysis

    trueI found Alexandre Voitenok and Rui Tang's Portfolio Management article (“Why long/short attribution is difficult,” Nov. 26) quite interesting. I agree with their suggestion that attribution for a long/short portfolio is more complex than against a long-only portfolio. However, there is hope to ...

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  14. Full audits of plans add substantial costs

    trueYou are quite correct when you say mandating standard audits in place of limited-scope audits of certain retirement plans will add to plan sponsor costs (“Time to expand audits,” Editorial, Jan. 7). You are quite wrong when you say these are “necessary” costs.

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