Latest White Papers

Retirement: From the mind of the TDF investor

Published by: Vanguard

In this third of three papers, Vanguard experts present key findings from Vanguard's target-date fund investor survey.

China's debt problem may be different from what you think

Published by: BNP Paribas Investment Partners

Debt arises when an economy transforms its savings into investment. Some observers argue that Chinaís debt-to-GDP ratio, estimated at close to 250% in 2015, has reached a point that could soon trigger a systemic collapse. This paper goes back to the basics to assess the situation.

Currencies are a Zero Sum Game

Published by: Berenberg Asset Management LLC

Are currencies a "zero sum game"? In this short paper, 30 year currency pioneer and CEO of Berenberg Asset Management, Gary Klopfenstein, addresses this question as it relates to the management of currency risk in a global portfolio. This paper is a must read for any institutional investor with a global investment allocation.

Dividend-Weighting Equity Markets: 2006Ė2016

Published by: WisdomTree

The question we posed more than a decade ago, and that many investors are asking today, is this: Despite great strengths compared to active managers, are cap-weighted indexes optimal from an investment perspective? Or can alternatively weighted indexes serve passive investors better than index funds based on traditional benchmarks?

The Resurgence of Non-Agency Residential Mortgages and RMBS

Published by: Angel Oak Capital Advisors, LLC

The 2007-2008 housing crisis led to the near disappearance of non-agency mortgage origination. Almost a decade after the crisis, however, non-agency lending and securitizations are making a comeback with much more stringent underwriting criteria and present a unique investment opportunity.

Reducing Pension Risk: The Five Myths Holding Back Plan Sponsors

Published by: Prudential Retirement

This paper demonstrates that conventional wisdom about de-risking DB plans is often false. Invalidating the "five myths" can help broaden the range of options that DB plan sponsors are willing to evaluate when formulating their long-term pension strategies.

Expanding the Case for Stable Value - What drives decision-makers to embrace stable value

Published by: Prudential Retirement

What drives decision-makers to adopt stable value funds? That is the question at the heart of Prudential Retirementís latest research paper, Expanding the Case for Stable Value: New Insights into What Drives Decision-Makers to Embrace Stable Value Funds.

The Global Credit Cycle: What Inning Are We In?

Published by: Prudential Fixed Income

All credit cycles have almost eerie similarities as well as distinct nuances. In this paper, we describe the unique characteristics of the current credit cycle and highlight how various industries are moving through the cycle at different paces.

Rising interest rates: Weighing risk for TDF retirees

Published by: Vanguard

Vanguard discusses how a higher interest rate environment might impact investors who rely on target-date funds in retirement. The authors argue that a hike in interest rates can be positive for retirees, particularly if it coincides with economic growth.

DC Goes Global: 10 Best Practices for Global DC Plans

Published by: State Street Global Advisors

State Street Global Advisors partnered with their multinational clients to provide 10 best practices for Global DC Plans. These guidelines help establish a strong framework for efficiently managing DC plans for a globalized workforce.

Engagement for Satisfaction: A retirement advisorís guide to showing value

Published by: Wells Fargo Asset Management

Looking for the key to show your value with sponsors? The Engagement for Satisfaction guide reveals ways to start conversations with sponsors about plan and participant insights. A sample participant education opportunity: 68% of workers over 40 regret not saving earlier.

Long-Termism Versus Short-Termism: Time for the Pendulum to Shift?

Published by: S&P Dow Jones Indices

Corporate sentiment, investor holding data, and secular trends highlight the short-term pressures companies face. A coalition of large-asset owners has realized the need for change and has put forth its recommendations on how the asset owner community can adopt long-termism principles.

Managing Fixed Income

Published by: P&I Content Solutions Group

Emerging markets, duration and high yield are among the ideas discussed by Michael Hyman, head of investment grade portfolio management at Invesco, Mike Collins, senior investment officer at Prudential Fixed Income and Seth Bancroft, a research consultant at NEPC.

Evaluating Multi-Asset Strategies

Published by: Standard Life Investments

As more investors recognize the potential benefits of a multi-asset approach, we explore how best to assess multi-asset outcomes. Investors should look beyond simple correlation to deepen understanding of the strategies and gain real insight into their underlying drivers.

Preqin Special Report: Investor Analyst- See How Investment Strategies Measure Up

Published by: Preqin

Gain valuable insight into the portfolio construction, alternative asset allocation evaluation and investment activities of institutional investors based on the results of a recent Preqin survey. This report also features case studies comparing different investors utilizing Preqin's industry-leading data.

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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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For more information on submitting a white paper, please contact Richard Scanlon at rscanlon@pionline.com or 212-210-0157.