The latest
Research

Pension issues with Chinese characteristics

This policy memorandum from the Paulson Institute describes the current state of the Chinese pension system and offers some suggestions to address a range of issues. The author, veteran academic and policy wonk Robert Pozen, discusses the key challenges facing the Chinese pension system, examines the causes of each of these challenges and puts forward […]
Research

Deconstructing risk parity portfolios

In this paper MSCI applies its framework for defining macroeconomic risk to strategic asset allocation, labelling assets as either risk premium or risk hedging. It applies the analysis to arisk-parity portfolio, showing how its relatively high exposure to inflation shocks makes it a risk premium portfolio.   To access the paper click here    
Research

Investment consultants: the heart of systemic failure?

In this engaging Edmond J Safra Research Lab Working Paper, Investment consultants and institutional corruption, lawyer Jay Youngdahl looks candidly at investment consultants in the United States. Describing them as gatekeepers between institutional investors and the peddlers of financial products, the author identifies ethically dodgy and widespread practices, and suggests they are at the heart […]
Research

Managing Japan’s public pension reserve

Japan’s Government Pension Investment Fund (GPIF) has $1.4 trillion in assets and is the world’s largest pension fund. The institutional structure and the investment style of GPIF differ from those of other public pension reserve funds. This article describes how GPIF is structured and how it works,then compares it with Canadian and American public pension […]
Research

Public pension governance and asset allocation

This paper from Matt Dobra and Bruce Lubich, of the Methodist University in North Carolina and the University of Maryland University College, respectively, analyses the relationship between governance, asset allocation, and risk among state and local government-operated pension systems in the United States of America. It is argued that governance influences investment decisions and risk profiles of public […]
News

Partnership creates global events network

Conexus Financial, the financial services media and events company and publisher of top1000funds.com, has formed a partnership with the New York-based World Pension Forum (WPF) to create a major international conference business catering to the world’s largest institutional investors. Conexus will apply its events management expertise and experience to enhance existing WPF events – three […]
Research

A Framework for Examining Asset Allocation Alpha

Recognising that different asset allocation portfolios are suitable for investors with different needs, Jason Hsu and Omid Shakernia think it is probably too ambitious to establish a unifying structure for determining benchmark asset allocation portfolios. Instead, they propose a framework for thinking about asset allocation alpha, assuming that investors have suitably determined their asset allocation policy portfolio. And the framework is: […]
Maverick Series

Maverick Series video – Gonski part IV

A Chinese proverb says “women hold up half the sky” and, while Australia may have been among one of the first nations to implement universal suffrage, glass ceilings can still be a hazard for professional women in this day and age. See what Future Fund chair David Gonski has to say on equal representation on super […]
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