Investments

Retirement distribution decisions among DC participants

Published by: Vanguard

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.

Lengthening the Investment Time Horizon

Published by: MFS Investment Management

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.

The Changing Equation: Building for Retirement in a Low Return World

Published by: BlackRock

What happens when longer retirements meet lower returns? DC plan participants need action and guidance to prepare. Explore BlackRockís The Changing Equation: Building for Retirement in a Low Return World.

Vanguard Life-Cycle Investing Model: A framework for building target-date portfolios

Published by: Vanguard

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.

A powerful combination: Target-date funds and managed accounts

Published by: Vanguard

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.

Central Banks of the World: Yield to the Markets!

Published by: Prudential Fixed Income

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.

Key Fault Lines in the Global Earthquake Zone

Published by: Prudential Fixed Income

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.

Passive and Active Fulfillment Choices
Target Date Funds: Combining the Best of Active and Passive

Published by: QMA

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.

The Ease of Automation and Guaranteed Lifetime Income

Published by: Prudential Financial, Inc.

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.

The Long and the Short of It: The Quant Shorting Advantage

Published by: QMA

Active extension, equity long-short, and equity market neutral products can be attractive for investors at any particular time, given investors' varied investment objectives and needs. QMA's paper describes how short selling can allow investors to find alpha in often overlooked places.

The timeless case for floating-rate loans as a strategic allocation

Published by: Eaton Vance Management

Floating-rate loans deserve consideration as a strategic portfolio allocation.

Where We Are Finding Growth: Internal Change Catalysts

Published by: Artisan Partners

Artisan Partners Growth Team examines an area of the market where it is finding growth opportunities despite a sluggish macro environment: Companies capitalizing on compelling internal change catalysts.

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.

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.

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?

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.

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.

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.

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.

IQ Magazine: The New Investment Reality

Published by: State Street Global Advisors

Today's low-return and volatile markets are prompting investors to reconsider traditional investment approaches.Our latest issue of the Investment Quarterly Magazine focuses on a growing movement toward factor-based investing.

A Silver Lining: The Investment Implications of an Aging World

Published by: PGIM

For the first time in recorded history, the old will outnumber the young. This unprecedented aging of the global population has profound consequences for individuals, businesses, governments, and investors.

Are Central Banks Losing Their Mojo?

Published by: Prudential Fixed Income

In recent weeks, the effectiveness of monetary policy has been questioned. This paper highlights the circumstances that have led up to the change in market perception and discusses the need for a comprehensive policy response to mitigate systemic risks.

China: In the Slough of Despond

Published by: Baillie Gifford International LLC

Baillie Giffordís Richard Sneller holds his ground amid the cacophony of doomsayers anticipating Chinas imminent economic collapse, stating his belief in a further prolonged period of Chinese growth on the back of structural alterations to four factors of production.

Not All Quality is Created Equal

Published by: Jensen Investment Management

At Jensen, we define quality somewhat differently. We invite you to read the article below, as we explore the pros and cons of our unique definition of quality and how it relates to the broader market landscape through various market cycles.

Risk Tolerance: From the mind of the TDF investor

Published by: Vanguard

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

The Illusion of Corporate Bond Diversification in a Balanced Portfolio

Published by: Community Capital Management, Inc.

Correlations between equity and corporate fixed income indices have historically been highest during times of negative equity returns, thus reducing the benefits of diversification. The paper discusses why taxable municipals can be a great alternative to corporate bonds in diversified portfolios.

Why We Favor European Equities

Published by: WisdomTree

We believe that, more than ever, fundamental strength should drive the relative performance among global equity markets going forward. Investorsí willingness to pay might be more constrained and bound by the rising uncertainty imposed by the divergence of major global monetary policies.

Product comprehension: From the mind of the TDF investor

Published by: Vanguard

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

Multi-Asset Outlook: Positioning for a Global Growth Bounce

Published by: PineBridge Investments

We believe we are heading into a period with more - and bigger - winners and losers. It's never been more important to focus on fundamentals. Learn more about the forces that will shape markets, and where we see opportunity.

The Persistence of Smart Beta

Published by: S&P Dow Jones Indices

When evaluating investments linked to non-standard indices, investors should first ask if the anomaly is expected to persist, as well as if a particular vehicle is well-designed to exploit the factor.

The Pension Risk Transfer Market at $260 Billion: Innovation, Globalization and Growth

Published by: Prudential Retirement

The international pension risk transfer marketplace is experiencing remarkable growth, with more than $260 billion in transactions completed since 2007. Hundreds of companies have transferred pension risk, with at least 40 pension funds executing transactions over $1 billion.

Women versus men in DC plans

Published by: Vanguard

Learn the factors driving a sizeable difference in 401(k) wealth accumulation between men and women.

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.

By downloading a white paper, you may be contacted by the white paper sponsor.

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