Replicating Private Equity

Replicating Private Equity

Download a PDF version of this article here. Borrow and access small cap Private Equity is illiquid and challenging to benchmark. Many investors use “S&P 500 +3%” in order to compare performance in the absence of an observable, investable asset. This paper...
Next Steps After an Annuity Purchase

Next Steps After an Annuity Purchase

You’ve just completed an annuity purchase for your pension plan. Congratulations, you reduced your plan’s risks (e.g. investment, regulatory, mortality, discount rate risks) and significantly saved PBGC premiums and administrative expenses! The contracts have been...
Pension Investing – Next Generation of Glide Paths

Pension Investing – Next Generation of Glide Paths

Download a PDF version of this article here. Pension plan sponsors, especially those with frozen pension plans, have spent significant time deciding on the most appropriate balance between growth (return seeking/equities) and hedging (liability matching/long-term...