All Pensions articles
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White papersAppraising home bias exposure - Switzerland
Studies show that pension funds worldwide continue to skew their portfolios to domestic securities. This paper explores the investment impact of the persistent home bias in the equity allocations of the Swiss pension fund markets since the global financial crisis.
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White papers
Opportunity exists for US, UK and Canadian pension funds who are prepared to de-risk
We recently witnessed the end of a very important moment, when US, UK and Canadian pension funds were simultaneously at the best funded status they had experienced in ten years. At the same time, all three markets had new entrants in pension insurance and reinsurance with ample insurer capacity, vibrant price competition and attractive buy-in and buy-out pricing. Additionally, seven years of lower than expected longevity improvements meant the lowest liability pricing from insurers and reinsurers in over ten years.
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White papers
Blog | How home bias hurts European investors
We recently blogged about the negative impact of home bias on equity returns for institutions based in North America, Japan and Australia since the global financial crisis.
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White papers
Spotlight on listed infrastructure - The attractions to pension schemes
Infrastructure typically gives investors access to regular, reliable and secure cashflows that grow over time and thus provide some protection from inflation generated from real, physical assets.
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White papers
Appraising home bias exposure: Eurozone
This paper explores the investment impact of the large and persistent home bias in the equity allocations of the five largest European pension fund markets since the global financial crisis.
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White papers
Quantitative Easing: The End Of The Road For Pension Investors?
Has central banks’ Quantitative Easing (QE) been a blessing or a curse for investors?
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White papers
Blog | No place like home: sizing up investment home bias in pension fund allocations
One would not expect that returns from equity investment by some of the world’s most highly-sophisticated institutional investors would be unduly domestically-focused, to the detriment of returns, but research from FTSE Russll suggests exactly that.
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White papers
French Pension Reform (An Update)
At the time we were writing the Thematic Paper entitled “French Pension Reform: A Trojan Horse for Better Control of the State Budget?”1, the financial sustainability of the French pension system looked certain. Since then, the government has set a new savings goal, with the aim of achieving financial equilibrium by 2025, and in doing so has prematurely ejected from its Trojan horse… This adds a whole new challenge to an already high-risk reform.
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White papers
China’s third-pillar pension challenge
Demographic changes are on course to put huge strains on China’s state pension system (the so-called “first pillar”) in coming years. Occupational (second pillar) pensions exist but remain small. Instead it is private (third pillar) pensions that are expected to grow rapidly from a small base, ultimately helping to ensure Chinese citizens can maintain their standard of living in retirement.
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The Power of Emotions: Responsible Investment as a Motivator for Generation DC
Study of attitudes to pensions and responsible investment.
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White papers
How long will you live and what does it mean for your investments?
Latest life expectancy data shows that your money will need to last a lot longer than you might be thinking.
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White papers
Five charts that will make you think differently about retirement
Retiring at 60 is a relatively new concept, and possibly a short-lived one in our history. As populations age – and age better – people are looking at a host of ways to stay in work and sustain their retirement income. We present five charts that sum up the changing landscape.
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White papers
A focus on funded status volatility of corporate DB plans
Year after year, corporate DB plan sponsor surveys show controlling funded status volatility (surplus risk) as the top priority for their organizations. When liabilities grow faster than plan assets, additional cash contributions are required. At the same time, pension assets and liabilities have become prominent parts of company financial statements that investors use to evaluate company health.
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White papers
How Global Investment Grade Can Help Pension Schemes Deliver Their Promises
With many defined pension schemes in negative cashflow, interest in cashflow-driven investing (CDI) is increasing. We believe the $11.3 trillion global investment grade credit universe offers the best means of maximising potential returns from a core CDI strategy. Moreover, advances in technology allow us to build portfolios more quickly, optimising returns and limiting risk.
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White papers
Blog | Corporates seek tools to reduce pension plan risk
Global market volatility and low interest rates have greatly impacted the funded status of corporate defined benefit plans over the past decade. Particularly in the last year, wide swings in equity markets have become less predictable, making funded status volatility a greater cause for concern.
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White papers
Tontines: A Practitioner’s Guide to Mortality-Pooled Investments
Tontines and similar mortality-pooled investment arrangements offer a useful and unique value proposition to the global retirement challenge.
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White papers
CDI: Does it make sense for UK DB schemes?
Soraya Kazziha, PIMCO’s Head of EMEA Client Solutions and Analytics, Rene Martel, PIMCO’s Head of Retirement Solutions and Michael Burns, Head of the UK and Ireland Institutional Sales Team.
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Asset Manager News
Blog | Why pension schemes can lead on climate change; Mersey’s long horizon
The long-term investment timeframe that pension schemes take poses enormous challenges but can also lead to innovative investment approaches to difficult issues. In this guest Q&A, Owen Thorne, portfolio manager, monitoring & responsible investment at the Merseyside Pension Fund (MPF) explains how the Fund approached the climate change challenge.
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White papers
Self-sufficiency for pension schemes: Keep on running?
Boris Mikhailov and Matthew Graham look at the benefits and risks for pension schemes targeting self-sufficiency.
