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A good DC fiduciary is no coward

The defined-contribution system needs to switch its focus from accumulation to income. This means breaking away from traditional approaches – something most fiduciaries lack the courage to do.
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Merton’s message: give up on alpha

Nobel Prize winner, Robert Merton, has thrown down the gauntlet. He claims that by focusing on a retirement income goal he can beat any competitor that is managing a 70:30 portfolio that has wealth accumulation as the goal. Do you dare take him on? The defined contribution pension management industry has it wrong, according to […]