Latest White Papers

The Investment and Management of Frozen Pension Plans

Published by: Russell Investments

Thousands of corporate pension plans in America have been frozen, while many others are considering such a step. Russell’s Frozen Plan Handbook serves as a simple guide for those who have already frozen—or are considering freezing—their pension plan.

MLPs Will Weather the Storm: Pullback Provides Attractive Entry Point for Patient Investors

Published by: ClearBridge Investments

A significant decline in oil prices has led to increased MLP volatility. However, their fundamentals remain robust. Our latest white paper examines the economics of the U.S. oil and natural gas markets and their impact on the outlook for MLPs.

Approaches to Benchmarking Listed Infrastructure

Published by: S&P Dow Jones Indices

Investing in infrastructure has become popular among institutional and private investors. Infrastructure assets provide essential services in transport, energy, water, communications and social services. Investment managers may consider different benchmarks depending on their own definition of the investment universe.

Smarter than beta: Why factor investing

Published by: HSBC Global Asset Management

The growth of factor investing has been astonishing. And the variation in factor criteria and portfolio implementation is equally so. Here we offer a framework for understanding and evaluating factor strategies, focusing on the low volatility factor.

Satisfy Department of Labor Guidelines with a Participant-Focused Approach to Target Date Funds

Published by: Capital Group

Capital Group outlines a comprehensive way of evaluating target date funds to help satisfy DOL guidelines, while supporting participants’ retirement savings efforts. Learn about the key factors in our white paper. Securities offered through American Funds Distributors, Inc.

Finding true value in your emerging-market investments

Published by: Newton Capital Management

In recent months the emerging markets universe has been increasingly characterized by diverging performances at regional, industrial sector and company levels. This paper explains why we believe being active in managing emerging market investments may help you find real value.

Hibernation: Managing a Sleeping Bear

Published by: Prudential Fixed Income

Many asset managers today advocate that plan sponsors consider a risk-reduction strategy called “hibernation”. But just as glidepaths don’t always “glide”, hibernation is not a passive strategy, but one that needs to be carefully watched. In this paper, we consider how the interplay between a smarter hibernation strategy and different de-risking tools can allow a plan to slowly wind down in both size and risk.

Weighing the Pension Investment Implications of Mortality Assumption Changes

Published by: Standish

New mortality assumptions reflect improved longevity and will therefore result in increases to both pension liabilities and plan durations. Standish looks at the investment considerations associated with the change in mortality assumptions used for calculating pension liabilities.

Target-date Fund Adoption in 2014

Published by: Vanguard

In this new research note, you'll get Vanguard's latest statistics on TDFs. Author Jean Young also examines some key reasons why TDFs continue to reshape investment patterns in DC plans, the growing use of automatic enrollment, and their designation as a qualified default investment alternative.

Why Currency-Hedge Foreign Developed Equities?

Published by: WisdomTree Asset Management, Inc.

WisdomTree believes currency-hedged investment strategies are growing in prominence due to shifting policy winds among global central banks.

Back to the future? A return to pre-crisis transaction volumes strains due diligence resources

Published by: McGladrey

Fierce competition for real estate assets is having ramifications for the due diligence process. Requirements are more rigorous than ever, yet the due diligence timeline is being compressed. Investors need to work harder (and faster) to ensure investment success.

Currency Risk Should Not be Managed. True or False?

Published by: Berenberg Asset Management

Given the continued strengthening of the U.S. dollar vis-à-vis most other world currencies combined with a view that this trajectory may continue, we discuss whether or not currency risk should be managed.

Rethinking Target-Date Fund Design: Managing Participant Risk

Published by: Prudential

This paper explains the thinking behind Prudential’s Day One Funds, our family of target date funds created to address the retirement risks we all face – with a particular focus on longevity risk.

Frontier Market Bonds: The Next Chapter

Published by: Aberdeen Asset Management

To help achieve a diversified portfolio, it may pay to be adventurous. Aberdeen’s global presence helps you diversify into the world’s most dynamic bond markets. Supported by 70 emerging market investment professionals, we seek out potential opportunities around the world.

Active vs. Passive: The Age-Old Debate

Published by: INTECH

The debate on the benefits and shortcoming of active versus passive investing rages on! This paper explores where we are in the active-management cycle and why it may be shortsighted to move away from active management at this time.

The Evolution of Quantitative Investment Strategies

Published by: American Century Investments

Quantitative strategies are gaining renewed interest as their systematic approaches have resulted in attractive risk-adjusted returns. We examine the enduring qualities that make quantitative investing a compelling and complementary approach within a larger equity portfolio.

Risk Management Roundtable

Published by: P&I Content Solutions Group

P&I brought together three leading experts to help investors sort the signal from the noise— and get positioned to protect their assets while spotting new opportunity.

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All white papers posted were created by the listed authors who are solely responsible for the research, finding and all materials contained therein. Pensions & Investments has not verified or edited the materials (other than for length and style) and does not necessarily agree or disagree with the analysis and positions expressed by the authors. Reference to any company, product or service does not imply recommendation or sponsorship by Pensions & Investments.

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