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Apr 2017
Macro and market

Multi-Asset Outlook: Is the post-election rally over?

Authors: Nanette Abuhoff Jacobson, ...

The first quarter did not exactly deliver a continuation of the post-election rally. Equities beat bonds, but leadership within equities rotated back to defensive sectors. The US led other developed markets,...

Mar 2017
Macro and market

With uncertainty so high, why is market volatility so low?

Authors: Sunil Kapadia, ...

The outlook for economies and investment markets worldwide seems unusually uncertain amid rising anti-globalization sentiment and electoral surprises such as Brexit and Donald Trump’s win. At the same...

File under: Market volatility: Assessing the wild ride


Rising rates are no panacea for corporate pensions: A case for increasing the...

Author: Amy Trainor, FSA, EA

Derisking by US corporate pension plans (reallocating from equities to long-duration bonds to better match liabilities) has been on hold in recent years, but could resume if funded ratios improve thanks to...

File under: New directions in liability-driven investing

Mar 2017
Macro and market

A framework for thinking about rising inflation: Think Function, Not Form

Author: Nanette Abuhoff Jacobson

Think Function, Not Form (TFNF) is an asset allocation framework I use to help me construct portfolios with diversified exposure to investments that have the potential to outperform in various economic...

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