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.
To say that the financial well-being of hundreds of millions of people around the globe rests on the performance of the tens of trillions of dollars held in funds with long-term investment horizons is not hyperbole. Whether these assets belong to defined-benefit or defined-contribution retirement plans, endowments or…
In this report, we present a concise analysis of facts, figures and trends revealed by FTSE 100 companies reporting in 2018. The report will help anyone involved in preparing or reading accounts to understand and benchmark their schemes.
While there are multiple ways of generating a glide path (surplus volatility focus, traditional linear interpolation, a mixture, etc.), this paper will describe a preferred, hybrid approach that fuses cashflow with risk. The objective of this approach is to balance the two competing objectives in order to maximize the…
The revelations from the Hayne Royal Commission (HRC, 2019), limited though they were by the terms of reference, have come as a shock to most people, including Australian politicians, officials, academics and the media. Their expressed shock indicates a high degree of ignorance about the Australian financial system. For…
This paper aims to provide a practical introduction into these issues to assist plan sponsors in evaluating whether LDI makes sense for their organization. Once a plan sponsor embraces the concept of LDI as a way to manage surplus volatility, the next step in the process is generally to create a glidepath, which serves as…
CFA Institute provides Policy Recommendations Following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry in Australia.
This report explores the state of separate account fees and the asset-based threshold levels associated with these tiered structures. Nearly 8,000 separate accounts of equity and fixed income strategies, covering various styles and regional focuses, are included in the full report. Products which were active on eVestment as…
Consultation on a new more prescriptive DB code of practice on scheme funding will begin this year. With key objectives and principles flowing from last year’s DB White Paper, it will implement measures which will “optimise” scheme funding in the wake of several high profile corporate failures. This will be accompanied by…
2018 was the worst year for financial markets since 2011 making it a real test for Fiduciary Managers’ (FMs’) growth portfolios and for many FMs the first real test. In the first XPS FM Watch report, we have compared their growth portfolio performance to each other and Diversified Growth Funds (DGFs) to assess how well they’…
The analysis in eVestment’s latest annual Capital Market Assumptions report covers 9 different consultants and over 1,000 data points from more than 40 consultant- and/or institutional investor-authored documents available in eVestment Market Lens.
As institutional investors review their asset allocations…
Impact investing strategy tops all Japan-based investor and consultant lists. Baillie Gifford & Co was the most viewed firm by clients in Japan and its Positive Change strategy was the most viewed product, while also attracting the most rising interest. The Positive Change strategy helped…
This paper addresses common myths surrounding the outsourced chief investment officer model, to help asset owners better understand this alternative management approach to portfolio construction and implementation.
EAFE-focused equity universes on the rise in Asia ex-Japan. Half of the top 10 rising universes by investors and consultants located in Asia ex-Japan were focused on developed markets ex-US/Canada equities. None of the EAFE universes were value-oriented, but they did include all cap, large cap, and small cap variants of core…
Hedge fund universes made up half of the top viewed universes among these eVestment users in April, and eight of the top ten rising universes. Various macro, managed futures, fund of funds, and multi-strategy universes were in the mix. Two Asia-Pacific focused hedge funds, Segantii Capital Management’s Asia-Pacific Equity…
How much institutional investors pay in asset management fees continues to be a hot topic, but hard data about the difference between what asset managers say they charge and actual fees charged has been difficult to come by.
The new report provides a comprehensive overview of fee structures across the traditional…
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