As a leading investor in private credit, learn why CPP Investment Board is attracted to the asset class in this Q&A with CPPIB's John Graham, Managing Director and Head of Principal Investments. Hint: Solid-risk adjusted returns is a significant factor.
Investors in EM debt have traditionally pursued bonds issued in an advanced country's currency, but today there is a more robust sector of locally denominated bonds. We believe this sector features more attractive risk/reward characteristics than ever before.
This paper examines the philosophical and fundamental underpinnings for the creation of the WisdomTree fundamentally weighted Indexes, showcases the impressive performance track record generated, indicates the factors we believe drove performance, and concludes with how we think these strategies fit into the U.S. equity market context today.
With the significant improvement of human lifespan, traditional retirement thinking does not adequately take into account the need for providing for the tail end of the lifespan in the form of a stable stream of retirement income.
Find out how new, pro-growth U.S. policies could accelerate the current credit cycle, requiring increased attention to tail risk in fixed income portfolio construction.
Core menus are designed to provide choice and diversification. But are they meeting that expectation? Our examination suggests four key steps to drive the next evolution of investment menus.
What is driving the rise of populist parties in Europe, the election of President Trump, Brexit? We explore these issues alongside social and cultural changes globally and consider the implications for the future of globalization and for markets.
A new political and economic landscape is changing investors’ priorities and approach. The Schroders Global Investor Study shows that a focus on investment outcome rather than relative return is fuelling a significant rise in multi-asset and smart beta investing.
In A different kind of target-date investor, from Vanguard Center for Investor Research, authors examine how participants become mixed target-date investors, determine if the concerns raised about mixed target-date investors are valid, and suggest measures to avoid such risks.
Dividend strategies have gained a foothold with market participants seeking potential outperformance and attractive yields in the low-rate environment since 2008. Stocks with a history of dividend growth could present a compelling investment opportunity when rates are rising.
Research has found that asset allocation is the key driver of return variability for a diversified portfolio. Vanguard offers clarity with two questions: How does asset allocation affect risk/return expectations? And how much home bias is reasonable?
The majority of retirement-age DC plan participants leave their plan within five years of separation from service. Participants are more likely to remain when plans permit flexible distributions, having implications for target-date fund design and retirement income programs.
Investors are increasingly making decisions based on short-term market trends due to the role of incentives, the media, financial reporting, and other decision-making biases. But there are opportunities for differentiated performance when investors hold securities for longer periods.
What happens when longer retirements meet lower returns? DC plan participants need action and guidance to prepare. Explore BlackRock’s The Changing Equation: Building for Retirement in a Low Return World.
New tools from Vanguard can help determine if plan participants could benefit from a glide path designed for unique participant populations. Vanguard explains the inner workings of their proprietary model for glide path construction.
Cynthia Pagliaro and Stephen Utkus, Vanguard Center for Retirement Research, explain how a combination of target-date funds and managed accounts can work with all your plan participants.
Overview of four common labels to better compare TDFs – and advance the manager selection process.
In today’s low interest rate environment, sponsors of underfunded pension plans can borrow at attractive rates and contribute the proceeds to their pension plan, thereby reducing or even eliminating their pension deficit, while having the potential to create shareholder value.
Are overzealous monetary policies contributing to market volatility? Are the aggressive policies of the BoJ and ECB inflicting more harm than good? We also consider where policies are headed next and why this should support the bond markets.
The age of DB may be over but many of its principles can be used to improve DC plans. BNY Mellon has revealing insights into how DC plan sponsors are drawing on DB best practices to increase efficiency.
As DC plans increasingly replace defined benefit plans, responsibility for retirement readiness has shifted to employees. Auto-enrollment and auto-escalation help, but how else can we prepare participants to shoulder responsibility for their retirement outcomes?
Active management advocates say managers should hold portfolios of just the securities in which they have the highest confidence. But growing “high conviction” investing is likely to increase risk, make manager skill harder to detect, raise asset owners’ costs, and reduce the number of outperforming funds.
Slow economic growth. Mountains of debt. Central bank buying. Negative bond yields. Rising inequality. Find out how the macroeconomic and policy failures of developed economies led to rising political risk, how these risks interact, and the implications for fixed income strategies.
The funded statuses of defined benefit plans continue to struggle. QMA's US Market Participation Strategy—with its asymmetrical return profile and low correlation to other growth assets—provides an effective solution for draw-down risk while still seeking long term returns.
The Department of Labor set a clear framework for defining when communications to retirement plan participants and IRA owners constitute advice. Knowing where the line is drawn between communications that trigger fiduciary status and those that do not will be an important element in managing your fiduciary risk exposure.
QMA discusses the characteristics of different types of active equity managers and examines the advantages of combining a quant approach with indexing. We also consider the implications in target date funds and how fulfillment choices impact retirement savings and income.
Prudential Retirement commissioned a survey that asked plan participants their thoughts on plan design features. This whitepaper takes an in-depth look at the findings and suggests ways for plan sponsors to better meet participant needs and expectations.
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.
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.
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.
Debt arises when an economy transforms its savings into investment. Some observers argue that China’s 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.
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.
What drives decision-makers to adopt stable value funds? That is the question at the heart of Prudential Retirement’s latest research paper, Expanding the Case for Stable Value: New Insights into What Drives Decision-Makers to Embrace Stable Value Funds.
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.
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.
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.
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.
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