Analysis & Research

Fixing the mismatch between risk management and asset allocation time horizons


Many pension plans use risk systems to test how different scenarios would affect their portfolios. Traditionally, risk models use thousands of scenarios. The likelihood that these ...

How past performance impacts pension plans’ return targets


While the fact that past performance is not a guarantee of future results is a familiar refrain, it appears public pension funds’ return expectations do ...

What are best practices for pensions investing in illiquid assets?


Institutional investors have been rushing into the arms of alternative, less liquid, investments over the past two decades. But there is considerable variation in how major ...

DB plans are better funded but expect returns to slump


Defined benefit pension plans are lowering their long-term return expectations, according to research from U.S. consulting firm, NEPC. According to the NEPC’s survey of corporate and healthcare ...

Building a portfolio with LEGO


While investors may remember playing with LEGO during childhood, it’s unlikely they’ve ever thought to include it in their portfolios. However, LEGO could possess some genuinely ...

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