Opinion

  1. Canada offers lessons for CalPERS, other U.S. funds

    trueI was a member of a task force created in the late 1980s by the government of Ontario to recommend how the province's public-sector pension plans might be restructured for better performance.

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  1. Arbageddon: One day, three deals, all spreads

    trueOn Aug. 6, the first broad-based merger spread widening occurred since the fall of 2011. The breakup of three announced deals that day widened spreads and provided a unique entry point to capture value through the anticipated convergence of these spreads.

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  2. Russia: Assessing the risks and opportunities

    trueRussia has been dominating global headlines in recent months and not for the reasons you'd like to see as an investor or potential investor.

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  3. Why the Halliburton decision matters

    trueThe U.S. Supreme Court’s ruling in Halliburton Co. et al. vs. Erica P. John Fund Inc. is a significant victory for institutional investors in pursing securities class-action lawsuits.

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  4. Higher yields, without increased risk

    trueWith equity markets at a historical peak and interest rates still low, rebalancing a portfolio is a painful proposition. Rather than investing in traditional fixed income, however, institutional investors can allocate to private credit, which offers higher yields without added risk

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  5. A new DC plan to replace current patchwork system

    trueOur nation needs to replace its existing retirement system — now.

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  6. An asset owner meets challenges of cost, performance

    trueIn reaction to criticism of costs and performance, Karl Koch, chief investment officer of the $27.65 billion Iowa Public Employees' Retirement System, Des Moines, posted on its website the following response on the use of active and passive investment management as well as performance and fees. The ...

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  7. Risk allocation must replace asset allocation

    trueThe investment industry has made great strides in using technology to modernize the investment process. The growth of exchange-traded funds is testimony to the desire to increase liquidity and transparency, and lower transaction and management costs. Transaction fees are ever shrinking. Information ...

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  8. Investors should address aggressive corporate tax planning

    trueSustainable, well-run businesses should pay a fair level of tax, and avoid the reputational, legal and financial risks posed by aggressive tax planning.

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  9. Taking a wide-angle view of the outsourced CIO

    trueIt pays to hire an OCIO who understands the priorities and workings of the institution first and only then develops a custom investment strategy to fit.

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  10. Keeping the PBGC from being the next bailout recipient

    trueA series of recently issued reports have addressed various governance and financial challenges facing the Pension Benefit Guaranty Corp. The takeaway from all of them is that unless changes are made in the way the federal pension insurance system is governed and financed, there is a heightened risk ...

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  11. Changing priorities could weaken retirement system

    trueIt's no secret the U.S. retirement system needs to evolve, but this year we are seeing an unprecedented perfect storm.

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  12. Inflation protection — better to be safe, not sorry

    trueSometimes it takes a crisis to make us all realize that, yes, inflation can always be lurking just over the horizon.

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  13. Rerisking without regret

    trueWith new actuarial tables threatening lower funding status, pension investors should consider reversing the course of de-risking embedded in their glide paths and increasing their allocation to return-seeking assets.

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