All articles by Georg Inderst – Page 2
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Features
Back with a bang
After years of near-neglect, asset allocation is now centre stage. The pensions world has (re-) discovered its importance for investment performance, liability matching and risk management. How quickly things can change. Only a few years back the view was widespread that there was not much value added to be gained ...
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Features
Too long the unloved asset
Most individuals know how much cash they have and why they keep it. Curiously, institutional investors have a more difficult relationship with money. Cash is often neglected, or regarded as an inferior investment, if an “investment” at all. More recently, however, many pension funds have started to reconsider their position ...
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Features
Getting the best from actuaries
For many pension plans, the actuary is a sort of shaman, a person with supra-human abilities in foreseeing the future of assets and liabilities, and special powers to control the solvency level of the pension fund. However, the belief in actuarial shamanism has recently been fading somewhat. Many things have ...
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Features
Getting the best from custodians
Has your custodian ever lost any of your assets? Probably not. Should you worry about such risks? Surely yes. But how much should pension fund directors get involved in custody issues? In fact, there are normally no major problems that would require the attention of pension fund boards. Custody seems ...
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Features
Get to grips with hedge funds
‘More talk than action’ is a comment often made during discussions about hedge funds for European pension funds. In this article, I would like to present the perspective of a pension fund trustee on this topic. The conclusion will be, in short, that the debate about the use of hedge ...
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Special Report
Dispelling the mysteries
‘For many beneficiaries and the public at large, pension funds are most mysterious organisations.” Whether or not you agree with this conclusion by an academic, it is certainly true that the structure and the running of pension plans has attracted low attention in the past, even by many insiders. However, ...
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