With real estate becoming more firmly established in the wider multi-asset investment universe, it’s important for investors to understand the scale of its opportunity set. In this paper, PGIM Real Estate estimates the size of real estate markets around the world.
Xi Jinping is set to begin another term as Chinese President--and become the most powerful Chinese leader since Chairman Mao. What does this mean for China and the world? Find out in the latest AIQ magazine from Aviva Investors.
“Smart beta” or fundamentally weighted strategies have become an increasingly popular way for investors to allocate to equity markets in recent years, as weighting by market capitalization does not always lead to the most efficient portfolio. This trend has been slower to develop in fixed income, but our sense is that this may be starting to change.
The global economy is entering a period of balanced growth that should alter how equities are valued and create greater opportunities for active managers. Characteristics unique to international markets should allow active managers to capitalize on trend changes and mispriced stocks.
The S&P Shift to Retirement Income and Decumulation (STRIDE) Index Series incorporates an innovative risk management framework focused on providing increasing levels of clarity and stability around sustainable annual consumption in retirement. This paper tests S&P STRIDE’s approach to consumption risk management and asset allocation over the period 2003 to 2016.
Passive portfolios often fail to fully deliver benchmark returns on a consistent basis due to the complexities and inefficiencies of fixed income markets. In light of these realities, investors could benefit from a smarter approach to bond indexing.
We’re concerned that investors are focused more on urging action than developing risk management solutions. With nearly 20% of corporate earnings potentially depleting to meet carbon price targets, we introduce Carbon VaR as a new tool to manage climate risks.
Is your DC plan ready for the shift from saving to retirement spending? As today’s employees retire, they will increasingly want (and need) assistance to translate their retirement assets into income. Explore how DC plans can help provide a solution.
Disruptive forces across markets, industries and global demographics are driving new thinking and opportunities for investors. Our Investment Quarterly magazine analyses the trends and how investors can capitalize on them.
Research shows that a life-cycle financial planning framework can help investors reduce “living standard risk”. The paper “Rethinking Portfolio Analysis: Living Standard Risk and Reward over the Life Cycle” says this framework can help improve investors’ spending and investment decisions.
Getting you to your destination while avoiding turbulence along the way.
At Conning, our experienced Liability-Driven Investment (LDI) team delivers customized investment solutions for pension plans throughout their de-risking journey. For more than 30 years, we have delivered innovative, asset liability focused investment mandates for pension plan and insurance clients, and our commitment to disciplined pension risk management is the cornerstone of our LDI philosophy.
Insurers searching for yield are increasingly interested in the opportunities of private debt, with its investment grade quality, structural benefits, and potential yield enhancements. Learn more about this niche market and how an independent private placement team can help.
Today, institutional investors are well versed in the arguments typically advanced for investing in emerging market debt (EMD); not least, arguments about diversification and yield pickup. However, in reality, interest in this asset class is often tempered by the challenges institutional investors experience in deciding on a correct allocation strategy and the perception that an allocation to this asset class appears to demand a disproportionately large proportion of their risk budget for what is usually a small allocation.
Can factor investing help target date funds achieve their objectives? Explore how carefully selected smart beta exposures can be implemented within the glidepath to seek additional return for younger participants and reduced volatility near retirement.
Arguments against the ability of active strategies to outperform market benchmarks fail to differentiate the many active management approaches available to investors. A recent ClearBridge analysis identifies turnover rate and number of holdings as determinants of performance among active strategies.
With a wealth of smart beta indices to choose from, market participants may find it difficult to decide when each factor-based strategy is best suited to deliver returns. Is it wise to rely solely on the performance of one factor? If not, what multi-factor approaches could be considered and how effective are they?
The Participant Magazine, State Street Global Advisors Defined Contribution flagship publication, takes a deeper look at longevity in this special issue. It explores how increasing human life spans are creating new opportunities and challenges for retirement savers.
A Northern Trust sponsored survey of 200+ asset managers and investors reveals evolving priorities around transparency and risk, as well as a need for industry consensus with regard to governance. Gain insights into alternatives and download the paper today!
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.
In our cover story, Aviva Investors looks at whether national self-interest in the US, China and Russia will lead to the emergence of new spheres of influence, and the potential economic and market ramifications.
We are in the middle of a massive transformation of the asset management industry, as assets are increasingly shifting from active to passive. Which is better? We argue the “right” answer depends on an investor’s goals, risk tolerance, time horizon, and view on markets, among other factors.
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.
Asset price volatility is a concern for most investors. One answer is to use a volatility-controlled strategy; one that seeks to reduce the risk, while retaining much of the growth within the portion of a portfolio.
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.
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 this round table, James Macey, portfolio manager for Franklin Templeton Solutions, Ashwin Alankar, global head of asset allocation and risk management for Janus Capital Group, and Michael J. Kelly, global head of multi-asset for PineBridge Investments, discuss what multi-asset strategies can deliver, what they can’t deliver and how investors can use them to help meet their return objectives.
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.
This paper will discuss what WisdomTree believes is one key factor to building smart beta indexes for U.S. equities: profitability. Incorporating profitability into the selection and weighting of its components is one element that sets WisdomTree apart in its earnings family of Indexes.
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?
Jackie VanderBrug, managing director and investment strategist at Bank of America Global Wealth & Investment Management Chief Investment Office; Bruno Bertocci, senior portfolio manager and managing director at UBS Asset Management; and Tim Barron, chief investment officer at Segal RogersCasey, discuss advances in ESG in terms of impact, measurement and building customized solutions, and explain how integrating ESG factors can improve returns and reduce risk.
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.
Tony Charles, global head of research and strategy for Morgan Stanley Real Estate Investing, Jim Clark, senior vice president and client portfolio manager at Nuveen Asset Management, and George Milling-Stanley, head of gold strategy at State Street Global Advisors, provide insight into why and how real assets can be a reliable investment choice today.
In this roundtable, Matthew Soifer from BlackRock, Robert Collins from Partners Group, and David Skinner from PGIM Real Estate, explain how a range of strategies are being retooled specifically to meet the needs of the DC market, where plan sponsors are looking for ways to help participants achieve better results in a world of mediocre returns from traditional asset classes.
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.
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