Defined-contribution pension plans “are in their adolescence” and one workable model for their maturity is public-private entities which use social networking to promote the confidence of their members, a world authority on pension funds says.
Introducing specialist risk management professionals within the fixed-income team is one of Wilshire Consulting’s recommendations to CalPERS following its review of the internal team, investment process and resources.
The Institute for Quantitative Investment Research (Inquire) Europe has recognised research by Professor Lionel Martellini, scientific director of EDHEC-Risk Institute developed in conjunction with Vincent Milhau, research engineer with EDHEC-Risk Institute. The paper, Dynamic Allocation Decisions in the Presence of Funding Ratio Constraints, can be accessed here. Inquire_Europe_Autumn_2009
Taking a three-year view of recent company earnings compared with price may be a more logical benchmark for market valuations, according to a paper from Wainwright Economics in the US. Wainright.pdf
Korea Investment Corporation, a $35 billion sovereign wealth fund, plans to double its allocation to private markets, including distressed debt and real estate, to 20 per cent over the next five years.
