Investments

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.

A revolution in equity investing: A deeper dive into non-financial data

Published by: UBS Asset Management

Non-financial data is playing an increasingly important role in equity analysis and investment strategy today. We explain the evolution in equity investing and why non-financial factors matter to financial performance, particularly those that pertain to environmental, social and governance issues.

Adding Value to Your DC Investment Lineup: Global Multi-Sector Fixed Income Strategies

Published by: T. Rowe Price

Core bond strategies remain the primary fixed income option in many defined contribution (DC) plans. However, these allocations may offer only limited diversification and return potential, especially in the current market environment.

Amid Corporate Bond Market Challenges, Achieving Sponsor LDI Objectives Using Custom Benchmarks.

Published by: T. Rowe Price Associates

With higher rates on the horizon, de-risking activity is poised to increase. Plan sponsors should begin preparing for the future today. We present an in-depth look at the challenging corporate credit environment, which demands diligent research and customized LDI solutions.

Emerging Markets Debt: Building Efficient Allocations

Published by: HSBC Global Asset Management

The growth of Emerging Markets Debt (EMD) comes with considerable complexity, and many investors are not fully aware of their exposures to this multi-dimensional asset class. Here we analyze and evaluate the factors driving EMD returns and discuss how to build efficient, well-diversified EMD portfolios.

Evaluating smart beta and other rules-based strategies

Published by: Vanguard

Learn the key differences between smart beta and traditional market-cap-weighted indexing strategies.

From Here to Normality: Fixed Income Investing Amid Shifting Interest Rates

Published by: PineBridge Investments

It's time for investors to reset and evaluate their traditional fixed income portfolio positioning for a new type of rate cycle. Successfully adapting will require repositioning allocations to navigate what's on the horizon. Learn how to prepare for what's next.

The Case for Geographically Unconstrained Equity Strategies

Published by: OppenheimerFunds

The diversification benefits of adding international equity exposure to a domestic portfolio are fading, given heightened correlations between regional equity indices. But global strategies may provide better diversification and, in the case of skilled managers, higher returns.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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. 

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.

Currency Risk Should Not be Managed. True or False?

Published by: Berenberg Asset Management

Given the continued strengthening of the U.S. dollar vis-à-vis most other world currencies combined with a view that this trajectory may continue, we discuss whether or not currency risk should be managed.

Satisfy Department of Labor Guidelines with a Participant-Focused Approach to Target Date Funds

Published by: Capital Group

Capital Group outlines a comprehensive way of evaluating target date funds to help satisfy DOL guidelines, while supporting participants’ retirement savings efforts. Learn about the key factors in our white paper. Securities offered through American Funds Distributors, Inc.

Active vs. Passive: The Age-Old Debate

Published by: INTECH

The debate on the benefits and shortcoming of active versus passive investing rages on! This paper explores where we are in the active-management cycle and why it may be shortsighted to move away from active management at this time.

Approaches to Benchmarking Listed Infrastructure

Published by: S&P Dow Jones Indices

Investing in infrastructure has become popular among institutional and private investors. Infrastructure assets provide essential services in transport, energy, water, communications and social services. Investment managers may consider different benchmarks depending on their own definition of the investment universe.

Finding true value in your emerging-market investments

Published by: Newton Capital Management

In recent months the emerging markets universe has been increasingly characterized by diverging performances at regional, industrial sector and company levels. This paper explains why we believe being active in managing emerging market investments may help you find real value.

Frontier Market Bonds: The Next Chapter

Published by: Aberdeen Asset Management

To help achieve a diversified portfolio, it may pay to be adventurous. Aberdeen’s global presence helps you diversify into the world’s most dynamic bond markets. Supported by 70 emerging market investment professionals, we seek out potential opportunities around the world.

Hibernation: Managing a Sleeping Bear

Published by: Prudential Fixed Income

Many asset managers today advocate that plan sponsors consider a risk-reduction strategy called “hibernation”. But just as glidepaths don’t always “glide”, hibernation is not a passive strategy, but one that needs to be carefully watched. In this paper, we consider how the interplay between a smarter hibernation strategy and different de-risking tools can allow a plan to slowly wind down in both size and risk.

Smarter than beta: Why factor investing

Published by: HSBC Global Asset Management

The growth of factor investing has been astonishing. And the variation in factor criteria and portfolio implementation is equally so. Here we offer a framework for understanding and evaluating factor strategies, focusing on the low volatility factor.

The Evolution of Quantitative Investment Strategies

Published by: American Century Investments

Quantitative strategies are gaining renewed interest as their systematic approaches have resulted in attractive risk-adjusted returns. We examine the enduring qualities that make quantitative investing a compelling and complementary approach within a larger equity portfolio.

The Investment and Management of Frozen Pension Plans

Published by: Russell Investments

Thousands of corporate pension plans in America have been frozen, while many others are considering such a step. Russell’s Frozen Plan Handbook serves as a simple guide for those who have already frozen—or are considering freezing—their pension plan.

Weighing the Pension Investment Implications of Mortality Assumption Changes

Published by: Standish

New mortality assumptions reflect improved longevity and will therefore result in increases to both pension liabilities and plan durations. Standish looks at the investment considerations associated with the change in mortality assumptions used for calculating pension liabilities.

Why Currency-Hedge Foreign Developed Equities?

Published by: WisdomTree Asset Management, Inc.

WisdomTree believes currency-hedged investment strategies are growing in prominence due to shifting policy winds among global central banks.

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.