Arun Muralidhar
- Special Report
SMART portfolio management
Static portfolio management techniques fail because they cannot respond to changing economic conditions. Arun Muralidhar offers an alternative
- Features
Devising an investable index
There has been a growing emphasis on pension fund liability management and creating a portfolio of assets to match these liabilities. The popular press has published several recommendations to protect pension fund solvency through the immunisation of liabilities. Recommendations have ranged from the approach of the Boots Pension fund, which ...
- Features
Currency overlay
Pension funds and institutional investors have been globalising their portfolios for many years, yet a majority of these investors have typically ignored the currency risk inherent in these investments. For example, euro-based investor with US assets has seen a reduction in returns from investing in the US since 2001 (close ...
- Features
Increase your options
The creation of the euro played a bad trick on currency managers. To begin with, currency managers had strong performance and information ratios, and this was managed with only 20 currencies (which given cross hedging gave a fair opportunity set). A number of research studies suggested that the alphas in ...
- Book Review
Book review: 'European Pensions & Global Finance'
Gordon Clark’s book, European Pensions and Global Finance, provides a refreshing addition to the burgeoning literature on social security and old age retirement security. Rather than offer another solution to the pending crisis, he reviews the political economy and economic geography to examine the role and status of European pension ...
- Features
And the 'Blue Ribbon' answer...
We propose a more pragmatic direction that leverages the best practices adopted by corporate pension funds. If anything, the mistake made by many reformers was to confuse ‘corporatisation’ with sprivatisations. In our forthcoming book ‘Rethinking Pension Reform’ (Cambridge University Press), we propose a ‘permanent’ solution to the problem of maintaining ...
- Features
Widening your options for currency returns
Currency overlay, the process by which institutional clients are able to overlay the expertise of currency managers on currency exposures inherent in international investing, has become a necessary part of investment management globally as funds increasingly invest abroad. As with any other investment area, there are multiple styles that can ...
