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Investment Research for UK Pension Funds

Savvy Investor

The Top 20 Papers of 2017 for UK Pension Funds

To coincide with the PLSA's 2017 Annual Conference, Savvy Investor has selected 20 top white papers for UK pension funds. All are accessible, free of charge on the Savvy Investor platform.

DB Pension Schemes: Raising cashflow awareness (LGIM, 2017)
Around the world, Defined Benefit pension schemes are maturing. Recent research shows that, more than half of them have negative cashflow or soon will have. This paper by LGIM explains what schemes can do to better manage their cashflows.

Financial Market History for Investors Today (CFA Institute Research Foundation)
In this compendium of papers, renowned investment experts examine different aspects of historic market returns, and draw conclusions for future returns.

Five-Year Expected Returns 2018-2022: Coming of Age (Robeco, Sept 2017)
In this popular and comprehensive report, Robeco presents its five-year return forecasts for major asset classes.

Supertrends - Investing for the Long Term (Credit Suisse, 2017)
This excellent 97-page report from Credit Suisse examines some of the secular trends impacting investors, including geopolitics, demography and technological change.

Invested in Technological Disruption: IQ Magazine Q3/Q4 2017 (SSGA)
How should investors position themselves to allow for technological change? This fascinating paper from SSGA examines the game-changing innovations, which are disrupting business models and changing the investment landscape.

Investment Management Fees: New Savings, New Challenges (bfinance)
This report provides details of asset management fee levels across the industry; discussing the driving forces in the marketplace, and how fee structures are changing.

UK Investment Management Salary Surveys 2017 (various)
The Savvy Research team has compiled a unique collection of UK asset management salary surveys, revealing compensation levels across a variety of investment roles.

The Shift to Reflation: Assessing the Impact to Portfolios (PineBridge, 2017)
How should asset allocation change to reflect a more reflationary environment? This research identifies five types of broad market regime, each of which favours different asset classes.

Factor Investing and Asset Allocation (CFA Institute Research Foundation, 2017)
Covering risk factors in both equity and bond markets, this 190 page report is a tour de force through the world of factor investing.

UK Pensions: Costs, Fees and Trustee Decision-Making (Aon Hewitt, 2017)
This analysis by AON Hewitt examines at investment management fees, and surveys how well they are understood by UK pensions trustees.

Seven steps to ESG integration (Robeco, May 2017)
Pensions trustees are coming under increasing pressure to adopt a sustainable approach to investment. In this report, Robeco presents a seven-step approach to integrate sustainability into the investment process.

Demographics will reverse three multi-decade global trends (BIS, 2017)
BIS argues that some big secular trends are starting to reverse. Demographic trends and globalisation have led to deflationary pressures and falling interest rates. This is now reversing.

FTSE 350 DB Pension Scheme Survey (Willis Towers Watson, July 2017)
Willis Towers Watson examines how companies are managing their pensions risk, and the impact of DB pension schemes on company accounts.

DC Dynamics: Is de-risking a good idea? (LGIM, Apr 2017)
In this edition of DC Dynamics, LGIM examines how DC pensioners should alter their investment strategy as they age.

Decomposing Funding-Ratio Risk: Key Insights for Pension Funds (BNP Paribas AM)
This report by BNP Paribas Asset Management examines the main components of funding-ratio risk. It was first published in the Journal of Portfolio Management.

Invesco Global Factor Investing Study 2017
Factor investing is gaining an increasing share of AUM. This report describes the results of over 100 detailed face-to-face interviews with investment consultants, pension funds and other asset owners around the world.

Sustainable Finance Report (Deutsche AM, June 2017)
Sustainable investing is quickly gaining in popularity. This 71-page paper by Deutsche Asset Management examines key trends such as asset owner demands, fiduciary duties and regulatory pressures.

The Case for Macro (William Blair, July 2017)
William Blair explains how macro investors analyse markets, seeking to build a liquid strategy that provides substantial risk-adjusted returns.

Understanding and measuring the illiquidity risk premium (Willis Towers Watson)
In a low-return world, investing in illiquid assets is a potentially attractive way of generating additional return. In this 12-page report, the authors explain the drivers of the illiquidity risk premium (IRP) and introduce their IRP index.

Best practices in the Pension Funds investment process (PwC, 2016)
This PwC report sets out best practices for structuring the investment process within pension funds. It examines trends in asset allocation trends, governance models, and other areas.

Indexes and Benchmarks Made Clear (FTSE Russell, 2017)
The use of indexes by pension funds extends beyond simply benchmarking the performance of an investment portfolio. This report describes the various purposes indexes can serve and examines how indexes should be selected.

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