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Oct 2017
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Evolve your tactical asset allocation by redefining TAA

Authors: Mark Lynch, ...

Tactical asset allocation (TAA ) strategies have long sought to deliver equity-like returns without the market risk of a pure equity allocation. However, such strategies have enjoyed mixed success, which has...

File under: Constructive thinking on active allocations

 
Oct 2017
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Portfolio policy

Shaping bond allocations to hedge equity risk: Think carry, not just correlation

Author: Chris Harris, CFA

During a crisis, we are told, “all correlations go to one”. A correlation that does not go to one, though, is that of perceived safe-haven bonds to equities. In periods of market stress, when...

 
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Sep 2017
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Can dividend-paying companies weather increased rate uncertainty?

Author: Gabriel Kim, CFA

The US Federal Reserve (the Fed) has raised the fed funds rate four times since late 2015, and the US 10-year Treasury rate is notably above its pre-US election levels. Now, after years of a low-interest-rate...

File under: Preparing for reflation and rising rates

 
May 2017
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Portfolio policy

Weatherproofing a plan's return-seeking assets

Author: Amy Trainor, FSA

For corporate DB plans, return-seeking assets are often synonymous with traditional equities. That’s fine if market conditions are just right, but it leaves plans vulnerable in many environments. We...

File under: New directions in liability-driven investing

More Insight

Feb 2017
| Accepting market returns: Risky business for defined contribution plans?

Jan 2017
| W_lock Equity long/short funds: Are the good times gone or does skill still matter?

Jan 2017
| Tax reform and long bond supply: An "early mover" advantage for US corporate pensions?

Jan 2017
| Narrowing the return gap: 10 steps in the right direction

Jan 2017
| Getting real: Eight reasons why we're bullish on real assets

Jan 2017
| Four pension issues to watch in 2017: An update for US corporate plans

Dec 2016
| The case for global equities: Diversifying risk in a volatile world

Dec 2016
| W_lock Setting ROAs: A 2016 year-end guide for US corporate and public plans

Nov 2016
| W_lock Customizing the pension liability hedge: A balancing act

Oct 2016
| W_lock The currency quandary: Hedging considerations for Canadian investors

Sep 2016
| W_lock Constructing a corporate bond liability-hedging portfolio: A global perspective

Aug 2016
| W_lock The hedge fund headache and the core alts cure

Aug 2016
| W_lock Commercial mortgages: An alternative to long corporate bonds for pension-plan derisking

Jun 2016
| W_lock Equity long/short: Are your shorts delivering alpha?

May 2016
| W_lock Funded-ratio volatility management: Navigating the perfect storm

May 2016
| W_lock A liquidity-conscious investment framework for corporate pension plans

Apr 2016
| W_lock The last smart-beta paper you’ll ever (have to) read: Nuggets of hope beneath the hype

Mar 2016
| W_lock Smoothing the lumps: Thoughts on mitigating the risks of lump-sum pension payments

Feb 2016
| W_lock Tactical advisory: A new model for the investment management relationship

Jan 2016
| W_lock Six reasons why commodities are attractive

Dec 2015
| W_lock A currency investor's thoughts on dog walking, cruise control, and surviving a heart attack

Dec 2015
| W_lock Measuring security-level liquidity: A new tool for fixed income portfolios

Dec 2015
| W_lock Guarding against inflation complacency

Dec 2015
| W_lock Redefining “long term”: Four capital market trends for the next 20 years

Nov 2015
| W_lock Factor-based “smart beta”: A short guide to some practical issues

Nov 2015
| W_lock Fixed income in a slow-growth world: Right-sizing your duration

Oct 2015
| W_lock Take two: Adding active allocations to the conventional corporate DB glidepath

Sep 2015
| W_lock Empirical duration: A better measure of rate and spread risk for unconstrained fixed income strategies

Jul 2015
| W_lock Six reasons to stay active in fixed income

Jun 2015
| W_lock Asset allocation and rising rates: What can we learn from the past?

May 2015
| W_lock Think Function, Not Form 2.0: Putting asset allocation assumptions to the test

Mar 2015
| W_lock Beyond gross exposure: Better risk metrics for a leveraged portfolio

Mar 2015
| W_lock (Re)risky business: Ideas for improving pension funding after the fall

Dec 2014
| W_lock Five reasons to own US core fixed income — even if rates are rising

Sep 2014
| W_lock Hedge fund investing after seven lean years

Sep 2014
| W_lock Sovereign savvy: Building a better global government bond benchmark

Sep 2014
| W_lock Asset allocation analysis for insurers

Jul 2014
| W_lock The evolution of corporate bond liquidity: The good, the bad, and the ugly

Jun 2014
| W_lock Developing a derisking glidepath and end-state portfolio: Best practices for corporate plans

Jun 2014
| W_lock Managing risk in multi-asset portfolios: Four priorities for the new model

Apr 2014
| W_lock Bridging the active/passive divide: A risk-based perspective

Apr 2014
| W_lock Against the grain: Practical approaches to contrarian investing

Jan 2014
| W_lock A better way to benchmark fixed income portfolios

Oct 2013
| W_lock A blueprint for better target-date portfolios

Aug 2013
| W_lock Untapped opportunities in a pension’s return-seeking portfolio

Apr 2013
| W_lock Structuring multi-manager investments for DC plans

Nov 2012
| W_lock Rebalance when? Guess again!

Nov 2012
| W_lock Analyzing asset sensitivity to economic regimes

Nov 2012
| W_lock The cyclical nature and changing role of active management

Oct 2012
| W_lock Structuring multi-manager equity portfolios: A new framework for a risk-driven world

Apr 2012
| W_lock LDI in a twisted world: Funding risk revisited

Dec 2011
| W_lock Do ROAs still matter? Pension insights for 2012 and beyond

Nov 2011
| W_lock Think function, not form

Apr 2011
| W_lock Active share: Predicting alpha and risk