White papers and articles discussing issues related to investment consulting and actuarial consultants. The most recurrent theme amongst our top papers is the subject of delegated investment management services, with fiduciary management surveys and reports on investment outsourcing (OCIO) being frequently downloaded. Reports on the role of investment consultants in manager selection have also proved popular, covering topics such as investment consultants' recommendations of fund managers, investment consultant alpha, and how to get on the approved list of managers for selection. Other top research in this section covers trends within the investment management industry, actuarial assumptions, and the role that investment consultants play in alternative investments. Further documents consider the risk tolerance of boards, institutional decision-makers, fee structures and risk premia.
Manager, Institutional Marketing - Investment Management Practice
Formal meetings with investment consulting firms can be make-or-break moments for asset managers. Strengthening relationships with consultants and ultimately winning a prized spot on their selective shortlists hinges on a manager’s performance in face-to-face formal meetings.
Our recently released white paper, Best Practices in Formal Meetings with Investment Consultants, ...
This 11-page paper is a collaborative effort between Aon Hewitt and Leeds University Business School. It's the third in the series analysing trustees of UK defined benefit (DB) pension schemes. It examines the relationship between trustees and their fund managers and investment consultants.
This ground-breaking study from the State Street Center for Applied Research, in conjunction with the CFA Institute, investigates motivation as a driver of investment performance. In order to quantify the intangible factor of motivation, the ...
This detailed document from Willis Towers Watson provides plan sponsors with valuable insights into delegation. As a consequence of delegation, plan sponsors have access to relevant skills that are lacking. They also can devote more time to oversight and strategy issues. The authors emphasise the importance of objectives evolving over time as the objectives of a delegate mandate ...
In the past few years, there has been a significant shift in how institutional investors and consultants are approaching manager selection and research. Open calls for RFPs are becoming less common as consultants and investors are using databases to pre-screen managers, create shortlists and invite only a select group to participate in the RFP or finals process. This practice has ...
Schroders Economics Group produces 30-year return forecasts, on an annual basis, for a range of asset classes. Here they outline the methodology used, which is based on a series of building blocks and estimates of risk premia, and surmise the key conclusions from our analysis. For the first time, this year they are also publishing a wider range of country-specific returns for ...
This paper surveys the practice of asset allocation for larger U.S. university endowments focusing on asset category definitions. Wide diversity today reflects the broad shift to alternative investments and the blurring of boundaries by investment funds and managers. A prominent example involves hedge funds. Numerous and divergent subcategories depict the current wide-ranging ...
This important guide explains where Resource and Environment (R&E) issues are relevant to pension schemes and the work of pensions actuaries. It is an attempt at helping pensions actuaries to assist their clients in navigating the uncertainties associates with R&E issues, in collaboration with covenant and investment advisers.
This 15-page paper by Deloitte discusses a number of trends that are re-defining the asset management industry. Among other things, the authors discuss four key catalysts that are shaping industry economics.
This 135-page document brings together the thoughts of a selection of eminent names from within the investment industry on the topic of long-term investing.
This 40-page paper has been jointly authored by Richard J. Bianchi, Michael E. Drew and Adam N. Walk. They examine the ERP concept (equity risk premium) particularly what is meant by 'the premium' for taking risk.
This Calpers / PRI / UNEP report explores the changes necessary for institutional investors to adopt a more long-term and sustainable approach to investment. It has interesting views for consultants. Skipping to page 19, the authors write, "The challenge for policymakers is thus to stimulate demand for investment consultancy services that incorporate sustainability, in order ...
This paper, from the Terry Group, explains that an investment strategy has a much greater chance of being implemented if the investment decision-making is delegated. Outsourcing investment strategy decisions is worth considering regardless of the length of time a respective pension fund will be around for. For an outsourcing strategy to reap the right results, it'll first be ...
In this detailed 80 page report, KPMG examine megatrends that they believe will reshape the investment management industry over the next 15 years. These include; 1) demographic and social change shifting the long-term needs and requirements of investors, 2) changes to the value chain driven by client demands, 3) the future need for operational agility will increase, 4) ...
This paper, of 2013, uses survey data to analyze what drives consultant recommendations on institutional funds, the extent of the impact on flow of said recommendations, and the extent of the value said plans add to plan sponsors. In the United States, these plan sponsors rely on advice from investment consultants as to how best to manage their over $33 trillion in funds.
This report, authored by three BNP Paribas researchers, has been published in the latest edition of the Journal of Portfolio Management. It makes an important contribution to the area of risk management by focusing on funding-ratio risk and proposing a framework to yield insights into the main components of funding-ratio risk.
The Financial Conduct Authority has published the findings of its much anticipated asset management market study. The report includes a package of remedies that it plans to take forward to address the concerns identified in its interim sector report.
The 112-page document details a number of key steps, which ...
In 2014, the Pensions and Lifetime Savings Association in conjunction with Club Vita looked at the difference in future life expectancy between the national population and members of DB pension schemes. Based on data from 2.5m live pensioners and over 1m deaths, the research concluded that improvements in longevity between 2000 and 2010 for pension scheme members differed from the ...
Recent policy proposals assume endowments can do more to reduce the reliance on student revenue, and thus the cost of a college education. These proposals aim to shift more endowment wealth to current student beneficiaries. Our analysis shows that while well intentioned, these proposals will affect endowment and organizational stability and intergenerational equity. While ...
