Understanding challenges around pension scheme discounting policies

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The lively debate around the use of the revised IORP Directive’s Holistic Balance Sheet (HBS) gives us an occasion to provide a quick overview of pension schemes’ liabilities discounting policies and asset allocation practices in Europe and in the US. We conclude by explaining the threat posed to those pension funds that continue to use fixed discount rates and we …

ETF Survey 2010

              The survey highlights the use of ETFs by institutional investors. The introduction of the survey presents dynamic risk budgeting techniques using ETFs. More…

ETF Survey 2009

              A previous version of the ETF survey 2010. More…

Constructing Absolute Return Funds with ETFs

        Constructing Absolute Return Funds with ETFs : A dynamic Risk-Budgeting Approach “This article develops an application of ETFs to the management of an absolute return fund. The use of dynamic core-satellite portfolio management makes it possible to construct absolute return funds using ETFs on stock and bond indices. As a result of the ease with which …

ETF Survey 2008

              A previous version of the ETF survey 2010. More …