Latest White Papers

A Multi-Factor Strategy for Index Enhancement

Published by: QMA

Many investors are hard-wired to overpay for “lottery” and “safety” stocks. QMA proposes a way to enhance index exposures by avoiding both.

Cautious – Patient – Selective: A New Mindset for a Shifting Risk and Low Expected Return Environment

Published by: Janus Henderson Investors

Debates abound on what to make of financial markets’ recent behavior. We assess the fundamentally driven changes and outline several levers of active management that investors can pull to help close the return gap.

Adaptive Multi-Factor Allocation

Published by: MSCI

Although factor allocation based on simple diversification techniques have performed well historically, some investors utilize a dynamic approach by adapting factor allocations. We discuss a framework that aims to adapt multi-factor allocations to changing market environments while preserving some benefits of multi-factor investing.

Shaking up and Shaking Out: Bold Moves that are transforming Asset and Wealth Management

Published by: SS&C

Are you leading the changes in the asset management and wealth industries, or scrambling to keep up? Take our advice—don’t try to be everything to everyone. Download our whitepaper to read more about the strategies that could accelerate you from a laggard to a leader.

2019 PIMCO Defined Contribution Consulting Study

Published by: PIMCO

Retirement income takes center stage in our latest annual survey of large-and mid-sized industry consultants.

Tackling the Challenges of ESG Investing as Opportunities Expand Across Asset Classes

Published by: IMPACT Community Capital, Newton Investment

In this roundtable, executives discuss different approaches to ESG and impact investing, how it has expanded across asset classes, how investors might think differently about data gaps and the benefits of ESG and impact investing, and what excites them about this rapidly growing part of the investment world.

How the Risk Measures play important roles for Tail Risk Management and Diversification

Published by: Nissay Asset Management Corporation

In multi-asset allocation framework, this paper proposes the effective tail risk management using two risk measures, lower tail-dependence based on Copula and CVaR. This paper also seeks the enhanced Risk Parity Portfolio using co-integration relationship in multi period optimization problem.

How LDI Strategies Are Evolving to Meet New Goals

Published by: Capital Group, Manulife Asset Management, Securian Asset Management

A P&I roundtable of experts from Capital Group, Manulife Asset Management and Securian Asset Management dive into the evolution and expanding uses of LDI.

High-Yield Credit: What’s in Your Wallet?

Published by: WisdomTree

What does 2019 have in store for the high-yield sector? Kevin Flanagan, WisdomTree's Head of Fixed Income Strategy, discusses why investors might want to take a closer look at their high-yield holdings and consider upgrading their credit quality.

The Technology Frontier - Investment Implications of Disruptive Change

Published by: PGIM

We are living in an era of unprecedented technological change. As such, we believe the implications for investors will be profound. PGIM's latest megatrend research examines how technology is unleashing disruption beyond Silicon Valley and transforming investment opportunities across industries, asset classes and geographies.

Investing in China: Finding Opportunity With a Long-Term View

Published by: Barings, PineBridge Investments, Mackenzie Investments, Sagard China

A P&I roundtable of experts from Barings, PineBridge Investments and Sagard China offer insights from their long experience actively investing in China to highlight trends, sectors and companies.

Indexing Risk Parity Strategies

Published by: S&P Dow Jones Indices

Risk parity strategies embody diversification—across time and asset classes. However, because there are so many ways to implement these strategies, it can be difficult to define an appropriate benchmark. Discover one transparent, investable solution.

European private debt in 2018 and the year ahead

Published by: M&G Investments

In this European private debt review of 2018 and outlook for 2019, we explore the key trends emerging in each of the private debt sectors and what will be important to navigate the ever-changing market through 2019.

China’s Local Equity Market: ‘…How and Where and Who’

Published by: Aberdeen Standard Investments

Why should you care about A-shares? How do you invest? Is investing worth the risks? Our latest thought leadership paper, China’s Local Equity Market: ‘…How and Where and When’ seeks to answer these questions.

Understanding Market Sentiment: What Every Equity Investor Should Know

Published by: State Street Global Advisors

In two recent commentaries, Olivia Engel, CIO of Active Quantitative Equity at State Street Global Advisors, discusses the market sentiment theme and how it can impact stock-picking and valuation.

Inflation and target date funds: Definitive insights into inflation-hedging

Published by: BlackRock

At what point should target date funds hedge against inflation? This paper seeks to quantitatively solve for inflation-hedging within a lifecycle consumption framework, explores the relationship between human capital and inflation, and expands BlackRock’s innovative target date optimization to provide insight.

Don’t Judge a Private Equity Fund By Its Number

Published by: Barings

Amid a crowded fundraising landscape, first-time GPs are often overlooked as LPs make larger commitments to fewer, established names. But emerging managers are challenging the status quo by typically delivering higher returns to investors—with women and diverse managers often topping the list.

Market Volatility: Consequences for Target Date Fund Selection

Published by: PGIM Investments

With the return of market volatility after a decade of strong equity returns, understanding fiduciary responsibilities and maintaining a prudent process around target date fund evaluation and selection has never been more important.

Invesco Vision: Portfolio management decision support system

Published by: Invesco

Invesco Vision is a portfolio management decision support system specifically developed to allow investors to carefully apply their judgement, aided by relevant information about the choices and trade-offs with which they are faced, to make better informed investment decisions that are aligned with achieving their specific investment objectives.

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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.