Academics from Columbia and Yale Universities examine the expected and actual returns of US university endowment portfolios and the role of alternatives in generating alpha.
To access the paper Investment beliefs of endowments
Research
Investment beliefs of endowments
alpha, alternatives, Andrew Ang, Columbia University, endowment, hedge funds, Private Equity, Yale university
Research
GIC, Temasek eye trillions of growth in climate adaptation market
Singapore’s two largest asset owners, GIC and Temasek, see attractive opportunities in climate adaptation solutions – a relatively underfunded area compared to decarbonisation. The former has already made selective adaptation investments and said the opportunity set across public and private debt and equity could increase to $9 trillion by 2050.
Sort content by
Internal governance mechanisms and pension fund performance
This study provides new empirical evidence on the impact of board structure, as an internal governance mechanism, on defined-contribution pension fund performance. It shows the composition of the board and the motivation of the board members are important in explaining pension fund performance.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Human rights custom index explained
MSCI has constructed a new index, based on client-specified customised ESG screening criteria, which aims to exclude companies directly implicated in certain serious human rights violations. This paper outlines the index methodology.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
A review of corporate bond indices
Bond indices’ risk exposures are very unstable measures over time, and further this instability is accentuated in the indices with the smallest number of bonds, according to research by EDHEC-Risk Institute which examines two sets of four corporate investment-grade bond indices in the US and Europe. It concludes that the more investable the index is
CDS Auctions
This Paul Woolley Centre Working paper, analyses credit default swap settlement auctions, showing the current auction design many not result in the fair bond price, and suggests modifications to the auction design to minimise mispricing. In particular it finds that an auction undervalues bonds by 10 per cent on average, on the day of the
The Development of Local Debt Markets in Asia
This IMF working paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. The papers says, with rapid economic growth in Asia, a key challenge
Deconstructing Herding
This World Bank policy research paper examines the herding behaviour of pension funds, concluding that funds herd more in assets for which they have less market information and when risk increases. Moreover, herding is more prevalent across funds that narrowly compete with each other.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Leave a Comment
You must be logged in to post a comment.
Login