Latest White Papers

Preparing for Pension Risk Transfer

Published by: Prudential

This paper outlines the steps involved in the most complete form of pension risk transfer: a buy-out transaction. There are steps a plan sponsors can undertake today to make a future transaction easier and to shorten the timeline for execution.

Smart beta: 2015 global survey findings from asset owners

Published by: FTSE Russell

There is no denying smart beta has arrived and will continue to transform and impact the investment landscape. The most recent findings provide investors with further insights into the adoption and use of smart beta strategies among institutional asset owners.

A Framework for Understanding Inflation Conditions

Published by: American Century Investments

We look at four factors to gain a clear view of the inflation picture—services, goods, currency, and government policy. These indicators suggest inflation remains tame, though we believe that the risk over the next three to five years is for higher inflation than the market expects.

2015 Preqin Investor Network Global Alternatives Report

Published by: Preqin

Find out about the latest developments in the rapidly evolving alternative assets industry with the 2015 Preqin Investor Network Global Alternatives Report. Aimed exclusively at institutional investors, the report analyzes investors’ strategies, allocation levels and the returns they receive.

A (mis)calculated risk: How focusing on the wrong risk has undermined wealth preservation strategies

Published by: Schroders

Finding an innovative and balanced growth and preservation strategy is the next frontier for successful wealth preservation. How prepared are you for this journey? At Schroders, innovation and forward-thinking are part of our 210-year investment heritage. Find out more.

The unique value of Target-Date Funds

Published by: Charles Schwab Investment Management

Target-Date Funds are excellent low-maintenance retirement investment vehicles that have been developed to assist investors as they save for retirement. In this white paper, we will highlight the broad benefits they have provided to investors in various stages of life.

Five Questions to Ask Your Currency Manager

Published by: Berenberg Asset Management

Can your currency manager deliver consistent outperformance over a sustainable period of time? In this piece, we outline five keys questions that help you answer this all important question.

Why Momentum Matters in International Small Cap Investing

Published by: ClearBridge Investments

Think international small cap performance is mainly driven by faster growth, less analytical coverage and shorter operating history? Think again. Momentum plays an often overlooked role—yet it can enhance return potential when captured with a multi-dimensional view.

The Power of Rebalancing: Fact, Fiction and Why It Matters

Published by: INTECH

“The Power of Rebalancing: Fact, Fiction and Why It Matters,” explains how rebalancing: exploits the natural volatility of stocks to potentially increase compound returns; locks in gains from diversification, which otherwise might be lost; and keeps a portfolio diversified.

A Tale of Two Benchmarks: Five Years Later

Published by: S&P Dow Jones Indices

Five years ago, S&P Dow Jones Indices examined the return differential between the two leading U.S. small-cap benchmarks, the S&P SmallCap 600® and Russell 2000®. This paper revisits this topic to see if the results have continued to hold true.

How America Saves 2015

Published by: Vanguard

How America Saves analyzes saving, investing, and account activity trends in defined contribution plans at Vanguard. It offers useful insights into current issues, including employer contribution trends, automatic plan features, use of target-date funds, and use of advice services.

Guaranteed Lifetime Income and the Importance of Plan Design

Published by: Prudential Retirement

In Guaranteed Lifetime Income and the Importance of Plan Design, we examine how guaranteed lifetime income options are positively impacting enrollment and diversification, helping participants prepare for their Day One of retirement and all the days that follow.

Retirement Income Roundtable

Published by: P&I Content Solutions Group

Plan sponsors should start thinking of their defined contribution plans as retirement income vehicles rather than as just savings plans. By reframing the purpose of the defined contribution plan, say the three industry experts that P&I brought together for a wide-ranging discussion, the spotlight moves from simple accumulation to the drawdown phase, providing income to participants in retirement.

STABLE VALUE: A Multipurpose Investment Option for Retirement Plans

Published by: Prudential Financial

As stable value's popularity grows, an understanding of the asset class is essential. This paper provides a concise overview of stable value, including how it works, its role in defined contribution plans and where it is poised to expand.

The Dividends of a Dividend Approach

Published by: WisdomTree Asset Management, Inc.

The fundamental WisdomTree believes to be the strongest indicator of underlying value is the dividend. WisdomTree’s dividend-weighted Indexes allocate weights to stocks and countries by treating all dividends equally. Read more in our whitepaper “The Dividends of a Dividend Approach.”

The next stage in smart beta investing: Harnessing factor purity

Published by: HSBC Global Asset Management

Investors are asking ever more probing questions on how factors and factor combinations aim to add excess returns. We think investors should focus on the efficiency of factor exposures together with the underlying construction process of a factor-based strategy.

Global Insights

Published by: Calamos Investments

A compendium of analysis from our global investment team. Commentary topics include global secular growth trends, global financial disintermediation, perspectives on biotechnology, economic reforms as a catalyst for investment opportunity, and emerging market growth as a tailwind for automation.

The Growing Tailwind for Active Managers

Published by: Fred Alger Management, Inc.

Find out why the powerful forces that have made it challenging for active managers to outperform their benchmarks over the past several years are likely to reverse and, we believe, generate outperformance in the near future. 

Emerging Market Debt: A Blended Approach

Published by: Aberdeen Asset Management

With emerging market debt it may pay to be adventurous and blended. Constructing an optimal portfolio across countries, instruments and industries helps diversify your fixed income approach. With 70 emerging market investment professionals, Aberdeen roams the globe for sources of income and yield.

Does the Fed Care About Disappointing GDP?

Published by: Western Asset

Will recent GDP data showing weak US economic growth lead the Fed to delay raising rates? No, says Western Asset's John Bellows, because the Fed's focus is on inflation and jobs -- and a medium-term time frame.

“To” versus “Through”: The great glidepath debate

Published by: TIAA-CREF Asset Management

Differences in target-date fund (TDF) design can make a big difference in retirement savings and income. TDFs with a “Through” retirement glidepath can increase savings and provide more effective protection against longevity risk, compared to TDFs with a “To” glidepath.

Seeking a glass half-full approach to bond investing

Published by: Newton Capital Management

Bond investors have been focused on whether the Federal Reserve will raise rates. This paper considers the implications of an increase and identifies steps investors can take to try to manage risk and avoid being damaged by short-term volatility.

Archived White Papers by Topic

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.