Issue Archive

• 2012 Issue 2

  • 

  • Features

  • Rethinking Cash Portfolios

    A segmentation strategy can help institutional investors boost the yield of their short-term investment portfolios.

  • Finding Yield in Volatile, Low-Interest Rate Markets

    U.S. high-yield corporate and emerging markets bond issues offer investors two compelling choices.

  • Younger Adults Face Financial Headwinds

    Pew Research Center’s Richard Fry sees significant challenges – and some encouraging signs– for younger defined contribution plan participants’ retirement planning.

  • Column: Voices

  • Focus Should Move Beyond Yield

    Investors need to give risk and liquidity the same consideration as yield in the portfolio construction process.

  • Departments

  • Global Megatrends

    New Climate for Short-Term Investments

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• 2012 Issue 1

  • 

  • Features

  • Examining Global Investments With a Fresh Perspective

    Despite the perception the world is in an economic downturn, there are investment opportunities if you know where — and how — to look.

  • Managing Equity Risk in Volatile Markets

    Long/short equity strategies seek to offer investors access to the upside potential of equity markets — with less volatility and lower drawdown risk.

  • DC Plan Considerations When Terminating or Freezing a DB Plan

    As the role of DC plans evolves, plan sponsors need to help plan participants by more actively managing the transition process.

  • Responsible Investing Goes Mainstream

    Appreciation for responsible investing grows as it is integrated into more traditional investment portfolios.

  • Column: Voices

  • Managing Volatility in Your Portfolio

    Despite negative perceptions, volatility can create opportunities for institutional investors.

  • Departments

  • Global Megatrends

    The Search for Yield

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• Fall 2011 Issue

  • 

  • Features

  • Engineered Beta

    Between active management and index management, investors are charting a third path: engineering their own beta.

  • New Engines of Global Growth

    Strong economic growth from emerging and frontier markets is expected to continue as the world’s population and economic centers shift.

  • The Changing World of Fiduciary Management

    Many investors are rethinking the degree to which pension fund trustees should outsource responsibility to third-party solution providers.

  • Retirement’s New Normal

    Boston College’s Alicia Munnell says employees need to save smarter and work longer to maximize retirement security.

  • Column: Voices

  • Managing Volatility in Your Portfolio

    Despite negative perceptions, volatility can create opportunities for institutional investors.

  • Departments

  • Global Megatrends

    Today, and over the foreseeable future, a series of events — call them global megatrends — will have a profound impact on the world economy. Each issue of Point of View will share insight into these trends and how the institutional investment community is preparing to address them.

  • Ahead of the Curve

    Ahead of the Curve covers developments that may impact the behavior and portfolio positioning of institutional investors. Take a closer look at events in the ever-changing regulatory, legislative and investment markets to determine how they may impact you.

• Spring 2011 Issue

  • 

  • Features

  • Active Design Is the Next Wave in Passive Management

    The boom in index-based fund management has not removed the need to customize portfolios in efforts to achieve desired risk/return exposure profiles.

  • Sovereign Debt: Not all Nations are Created Equal

    A painful, lingering global recession has thrown the spotlight on the different ways that nations handle debt.

  • Striking the Proper Balance in Multi-Manager Portfolios

    Diversification, not dilution, should be the objective when assembling an investment roster.

  • Inflation: A Tale of Two Worlds

    When it comes to inflation there is a fork in the road, with the developed world moving in one direction and emerging markets taking a different route.

  • Column: Voices

  • Municipal Bond Market Merits Another Look

    Sector’s quality and adjusted yields could be major draw for opportunistic institutional investors.

  • Departments

  • Global Megatrends

    Today, and over the foreseeable future, a series of events — call them global megatrends — will have a profound impact on the world economy. Each issue of Point of View will share insight into these trends and how the institutional investment community is preparing to address them.

  • Ahead of the Curve

    Ahead of the Curve covers developments that may impact the behavior and portfolio positioning of institutional investors. Take a closer look at events in the ever-changing regulatory, legislative and investment markets to determine how they may impact you.

• Winter 2011 Issue

  • 

  • Features

  • European Sovereign Debt: Challenges and Opportunities

    Institutional investors may want to consider including European sovereign debt to capture higher yields.

  • Custom Target Retirement Date: The Optimal Solution?

    Time, expense and outcomes need to be considered before pursuing a customized target date solution.

  • Securities Lending: Monitoring Borrower Demand Trends

    Patience may prevail as borrowing levels stabilize.

  • High-Yield Investment Balancing Act

    The high-yield bond market may provide the best of both worlds: less risk and lower volatility than equities but higher potential returns than other fixed-income investments.

  • Column: Voices

  • A Second Helping of Quantitative Easing

  • Departments

  • Global Megatrends

    Today, and over the foreseeable future, a series of events — call them global megatrends — will have a profound impact on the world economy. Each issue of Point of View will share insight into these trends and how the institutional investment community is preparing to address them.

  • Ahead of the Curve

    Ahead of the Curve covers developments that may impact the behavior and portfolio positioning of institutional investors. Take a closer look at events in the ever-changing regulatory, legislative and investment markets to determine how they may impact you.

• Summer/Fall 2010 Issue

  • 

  • Features

  • Global Perspectives on Inflation

    Low inflation risks in developed markets; a very different scenario facing emerging markets.

  • Insights into Defined Contribution Plan Expenses

    Plan sponsors must assess the impact of expense structures on participant accumulation in defined contribution plans.

  • The Ins and Outs of Crossing

    Investors find that the total costs of this trading approach may outweigh the benefits.

  • Evaluating OTC Derivatives Exposure

    As increased regulation continues to affect the markets, many firms are focusing on over-the-counter derivative valuations and collateral management.

  • Column: Voices

  • The “Pop” in Population Growth

  • Departments

  • Global Megatrends

    Today, and over the foreseeable future, a series of events — call them global megatrends — will have a profound impact on the world economy. Each issue of Point of View will share insight into these trends and how the institutional investment community is preparing to address them.

  • Ahead of the Curve

    Ahead of the Curve covers developments that may impact the behavior and portfolio positioning of institutional investors. Take a closer look at events in the ever-changing regulatory, legislative and investment markets to determine how they may impact you.

• Spring 2010 Issue

  • 

  • Features

  • Managing Liquidity in the Private Equity Market

    Investors look to better understand capital calls and distributions.

  • Bringing DB Discipline to DC Investing

    Including extended asset classes within target date funds can benefit investors.

  • Scrutinizing Fixed Income

    Insights on short- and long-term changes within the global fixed-income markets.

  • International Completion Strategies

    Developed international small-cap, emerging and frontier markets can help investors better align their portfolios with the global economy.

  • Column: Voices

  • When to Take on Risk in a Diversified Portfolio

  • Departments

  • Global Megatrends

    A look at global efforts to legislate the transparency of investment strategies and vehicles.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• Fall/Winter 2009 Issue

  • 

  • Features

  • Derivatives-Based Investment Solutions

    Customized strategies offer potential to add return, manage risk.

  • Changes Pending for MMFs

    Proposals for new regulations aim to increase transparency and better manage systemic risk.

  • The Next Priority for DC Plans

    U.S. researcher advocates shifting plan sponsor focus to asset distribution rather than wealth accumulation.

  • Column: Voices

  • Building Trusted Relationships

    Institutional investors deserve proactive, open and educational interaction.

  • Departments

  • Global Megatrends

    An analysis of the changing allocation strategies of endowments and foundations.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• Summer 2009 Issue

  • 

  • Features

  • Participant Behavior in DC Plans

    Plan sponsors should consider individuals' savings and investment patterns with plan design to help participants achieve a successful outcome at retirement.

  • Perspectives on Securities Lending

    Institutional investors revisit securities lending with a stronger awareness of potential returns and associated risks.

  • The Road Ahead For Fixed Income

    Signs of normalcy are returning to the market after the upheaval of the past couple years.

  • Transitioning a Fixed-Income Portfolio

    Asset allocation refinements and investment manager changes heighten the challenges of moving bond portfolios.

  • Column: Voices

  • Redefining Risk Management

    Investors are realizing that risk management must share equal billing with fund performance.

  • Departments

  • Global Megatrends

    An analysis of the impact of global economic stimulus expenditures.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• Spring 2009 Issue

  • 

  • Features

  • Global Economic Stimulus

    Assessing the impact of government actions worldwide.

  • Investment Program Outsourcing

    Institutions become comfortable with programs offering customized solutions and expertise for increasingly complex and challenging markets.

  • Perspectives on Global Equity Investing

    As the importance of sovereign boundaries diminishes, the investing focus shifts toward sector analysis and best-in-class opportunities.

  • Frontier Markets

    Institutional investors have new opportunities to broaden and deepen their international exposure.

  • Small-Cap Stocks and Recessions

    History seems to indicate that small-cap stocks frequently have outperformed larger stocks as the economy recovers from a recession.

  • Column: Voices

  • Viewing Alternatives Through the Appropriate Lens

    Proper perspective helps investors integrate alternatives into their portfolios.

  • Departments

  • Global Megatrends

    The DB-ization of Defined Contribution Plans

  • Ahead of the Curve

    Discussion starters for institutional investors.

• October 2008 Issue

  • 

  • Features

  • The Right Time for Global Real Estate?

    Buying opportunities in overseas property markets offer potential for enhanced returns and reduced risk.

  • The Outlook for Private Equity

    Liquidity crunch and economic concerns don’t dampen investors’ appetites for private equity investments.

  • Emerging Markets and the Credit Crunch

    Low debt exposure leads to strong performance relative to developed markets.

  • The Shifting Corporate Pension Landscape

    U.S. private-sector retirement plan sponsors adopt new strategies to cope with an ever-changing set of challenges.

  • Column: Voices

  • The Only Constant is Change

    New approaches and challenges characterize the evolving institutional investment universe.

  • Departments

  • Global Megatrends

    The Demand for Commodities

  • Ahead of the Curve

    Discussion starters for institutional investors.

• July 2008 Issue

  • 

  • Features

  • New Mandates for Emerging Managers

    Institutional investors broaden the scope of their emerging manager programs in their search for alpha.

  • Perspectives on Investing in China

    Assessing the risks and growth potential for China’s evolving stock market.

  • A Holistic Approach to Risk Budgeting

    A Holistic Approach to Risk Budgeting Approach helps U.S. plan sponsors balance short- and long-term funding considerations.

  • No Time Like the Present for LDI

    Pension fund sponsors examine the merits of liability driven investing.

  • Column: Voices

  • International Demand to Drive Earnings

    U.S. exporters expected to fare better during second half of 2008 than companies with a domestic focus.

  • Departments

  • Global Megatrends

    The rise of sovereign wealth funds is reshaping the world’s capital markets.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• April 2008 Issue

  • 

  • Features

  • Risk Management or Risk Shifting?

    Popular academic theory meets real-world pension plan investment strategy.

  • ETFs Offer Broader Market Exposure

    Investors turn to exchange-traded funds for efficiency in capturing beta and flexibility of use.

  • Cash as a Strategic Asset

    As investors take a more active approach to their short-term portfolios, they must balance the potential for enhanced returns against risk and liquidity considerations.

  • London: Hub of Foreign Exchange Activity

    Multiple factors converge to keep the city at the crossroads of the burgeoning global currency marketplace.

  • Column: Voices

  • Overcoming Home-Country Bias

    Institutional investors continue to shift their focus toward foreign markets.

  • Departments

  • Global Megatrends

    Investors adopt outcome-oriented strategies for their investment programs.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• January 2008 Issue

  • 

  • Features

  • Trends in the DC Plan Universe

    Use of auto enrollment, target date funds surges among defined contribution plans.

  • The Dividend Puzzle

    Stock repurchases are replacing dividends for a new generation of companies.

  • Developing a Liability Benchmark

    New scorecard gives sponsors a clearer view of a plan's ongoing health and viability.

  • The Winds of Change

    Investors evaluate the opportunities and risks resulting from global climate change.

  • Column: Voices

  • Laying the Groundwork

    Keys to successfully restructuring defined contribution plan assets.

  • Departments

  • Global Megatrends

    Institutional investors adopt a global perspective in pursuit of investment opportunities.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• October 2007 Issue

  • 

  • Features

  • Derivatives Surge in Popularity

    Use increases as plans sponsors look to manage risk and boost returns.

  • Employing Leverage

    The common denominator in some of the most innovative investment strategies is leverage.

  • Walking the Beta Line

    Managers seek to add value by separating true alpha from hedge fund beta.

  • Exploring New Horizons

    Large foundations and endowments reap the benefits of alternative investing.

  • Column: Voices

  • Expanding the Efficient Frontier

    Managers and their clients must adapt to a changing investment environment.

  • Departments

  • Global Megatrends

    Pension sponsors embrace alternatives to address unfunded liabilities.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• July 2007 Issue

  • 

  • Features

  • The Evolving Plan Structure Landscape

    New types of retirement plans address changing regulations and market trends.

  • Handing Over the Investment Reins

    Total investment program management can allow investors to focus on core competencies.

  • Opportunities in the Eurozone

    A combination of events has put short-term fixed-income strategies in the spotlight.

  • Inside Target Date Funds

    Defined contribution plan sponsors look to select target date strategies that benefit their plans.

  • Column: Voices

  • Aligning Interests

    To be successful, investment managers and clients must forge effective partnerships.

  • Departments

  • Global Megatrends

    Investors looking to hedge risk are fueling growth in the derivatives markets.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• April 2007 Issue

  • 

  • Features

  • Emerging Managers Gain Ground

    Smaller, newer and minority-owned asset management firms are garnering attention with institutional investors.

  • Portable Alpha: A Risk-Efficient Approach to LDI

    Portable alpha provides the building blocks to engineer more risk-efficient LDI strategies than traditional investment approaches.

  • Currency as an Asset Class

    As investors look beyond traditional hedging opportunities, currency trading grows into a stand-alone asset class.

  • Exploring the Hedge Fund Universe

    With an increasingly crowded marketplace, the challenge in hedge fund investing will be identifying new market inefficiencies.

  • Column: Voices

  • Japan’s Comeback

    Japan’s economy is back on track after several years of stagnation.

  • Departments

  • Global Megatrends

    Plan sponsors are increasingly turning to outsourcing to gain simplicity in plan management.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• January 2007 Issue

  • 

  • Features

  • The Evolution of Responsible Investing

    Next-generation socially responsible investment strategies allow investors to evaluate the impact of social and environmental factors on financial performance.

  • New Tactics for Investors of Balance Sheet Asset Pools

    Often found on an organization’s balance sheet, taxable asset pools are being invested in innovative ways.

  • Relaxing the Long-Only Constraint

    Active extension strategies are a natural next step for institutional investors seeking a risk-efficient method of capturing alpha while maintaining beta exposure.

  • Implementing LDI in Pension Plans

    Tougher funding and disclosure requirements are spurring pension plan sponsors around the globe to reconsider the context of how they view their assets and liabilities.

  • Column: Voices

  • Sticking with Emerging Markets

    Emerging market equities have demonstrated why they should be a core element in a long-term international portfolio.

  • Departments

  • Global Megatrends

    The move toward DC plans: Defined contribution plans gain favor with employers around the globe.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• October 2006 Issue

  • 

  • Features

  • The Global Pension Shift

    Pension plans around the globe are adopting new investing mindsets and changing behaviors as they grapple with aging populations, funding issues and new regulations.

  • Beyond the Great Wall

    From private pension systems to cross-border investing, China’s emergence in the global economy presents risks and rewards.

  • Perspectives on Private Equity

    Successfully navigating the private equity waters takes persistence, perseverance and patience.

  • Column: Voices

  • Paulson’s Potential

    The arrival of Hank Paulson as U.S. Treasury secretary could represent a new approach to economic policy.

  • Departments

  • Global Megatrends

    Asset-mix shifting: Maximize excess returns and manage liabilities.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.

• July 2006 Issue

  • 

  • Features

  • Private Equity in the Public Eye

    Private equity funds are coming off of a banner year. Institutional investors are taking a look at how they can safeguard their private equity portfolios.

  • The New Appeal of Emerging Markets

    Emerging markets are finding a home in institutional investors’ portfolios, where achieving an effective policy allocation can still be a challenge.

  • The Search for Efficient Asset Class Exposure

    Broadening the opportunity set of investment strategies is a critical first step to meeting an institutional investor’s performance objectives.

  • The Global Shuffle

    With global economies becoming increasingly intertwined, shifts in long-term interest rates are changing the way investors are viewing money flows around the world.

  • Column: Voices

  • Sudan-Free Investing Exemplifies A Broader Trend

    Sudan-free investing exemplifies efforts to achieve more than investment goals.

  • Departments

  • Global Megatrends

    Industrialized countries are looking to legislation and regulatory changes to address pension funding gaps.

  • Ahead of the Curve

    A starting point for a discussion of the issues that affect the institutional investment community.