All risk management articles – Page 9
-
Special Report
Risk & Portfolio Construction: ‘All equities are black boxes’
In January 2011 the PNO Media Pension Fund terminated its US and European equity enhanced-index mandates with Barclays Global Investors and brought the assets in-house. However, it did not go passive – or at least, not in the sense in which most of us would understand the term.
-
Special Report
Longevity: Re-distributing the risks
Bernhard Brunner makes the case for government involvement to kick-start capital-market longevity-hedging instruments
-
Special Report
Longevity: Time to get the tradesmen in
With buyout deals and pipelines buoyant as more DB schemes close to future accrual and sponsors bite the cost bullet, Pádraig Floyd asks whether the short trend for ‘DIY’ has already run its course
-
Special Report
Longevity: A healthier way to de-risk
Trustees could secure big savings by de-risking through medically-underwritten bulk purchase annuities, argues Debbie Harrison. That could mean the difference between affordability and unaffordability
-
Special Report
Longevity: The second fiscal crisis
Unchallenged, the projected costs of ageing in Europe are truly terrifying. But Douglas Renwick and Eugene Chiam point to potentially significant long-term mitigation that can – and has – come from reforms
-
Special Report
Longevity: Living longer, costing more
In 1985, for every person turning 65, there were 10 new people of working age. According to estimates from the UN, by 2040, for every person turning 65, there will be less than one additional person in the 20-64 years age groupage
-
Special Report
Longevity: Back to first principles
Andrew Hunt and David Blake present a new, general procedure for constructing mortality models that unbundles the age, period and cohort dimensions in the data, resulting in better understanding of historic changes in mortality and more reliable forecasts of future mortality rates
-
Special ReportLongevity: The great age of divestment
Martin Steward looks at evidence for the demographic ‘asset meltdown’ theory, some investment strategy implications – and the major caveats attached to putting too much store in it
-
Special ReportRisk Parity: Risk parity for pension schemes?
Gearing-up on bonds looks remarkably like LDI, notes Gwion Moore. So what does this tell us about the suitability of risk parity for an investor whose starting point is a significant short position in long-dated interest rates?
-
Special Report
Risk Parity: ‘Risk parity is not sufficient’
Martin Steward discusses the philosophy behind the risk-factor allocation approach adopted by Danish pension fund ATP with CIO Henrik Gade Jepsen – and the impact of a new risk environment on its strategy
-
Special Report
Risk Parity: Simple idea, complex questions
Brendan Maton asks what the track records of risk parity strategies can tell us about their suitability for new economic environments, and how they might fit into the thinking of European pension funds suitability for new economic environments, and how they might fit into the thinking of European pension funds
-
Special Report
Risk Parity: I’m a (cautious) believer
The principles of risk parity may be sound, the CEO of AIMCo tells Joel Kranc, but the exuberance must be tempered by the current economic climate
-
Special Report
Risk Parity: A better balance
Joel Kranc discusses the rationale for a gradual shift to the risk parity model with Bill Estabrook, executive director with Ohio Police & Fire Pension Fund
-
Special Report
Risk Parity: Risk parity for a single asset class
Pure risk parity just about works in a multi-asset class context. For individual asset classes, Joseph Mariathasan finds that it needs to be constrained and adapted – but still offers a useful corrective to the biases of the cap-weighted portfolio
-
Special ReportRisk Parity: The truly balanced portfolio
Martin Steward spoke with Ray Dalio of Bridgewater Associates, the pioneer of alpha/beta separation and risk parity, about strategic diversified beta portfolios
-
Special Report
Risk Parity: Missed opportunity?
Investment managers are launching risk parity funds in response to investor demand in the US market place. Matthew Roberts wonders why there hasn’t been the same level of demand in the UK
-
Special ReportRisk Parity: Risk parity, risk management and the real world
AQR’s Adam Berger, Michael Mendelson and Daniel Villalon discuss risk, and the practical challenges of managing it successfully
-
Special Report
Risk Parity: Taking the long view
In the wake of the latest market crash, the name alone garnered a lot of attention for risk parity from US investors. But as investors calm down, reassured by rising equity markets, Stephanie Schwartz asks if it has staying power
-
Special Report
Longevity: Lives of the SAINTs
At four million, the small population of Denmark is not a reliable dataset for longevity projections. Rachel Fixsen finds out how ATP went global for a better model
-
Special ReportLongevity: Live long… and prosper?
Individual circumstances can make a decade of difference to how long we live after retirement. As Sarah Harper, Kenneth Howse and Steven Baxter observe, this makes simply raising the retirement age inequitable
