Best Pensions Paper 2020 (UK and Europe)
CFA Institute wins Best Pensions Paper 2020 (UK and Europe)
Defined benefit pension schemes frequently allocate a portion of their assets to private market alternative asset classes. Unfortunately, these same options do not presently exist for defined contribution investors, mostly due to minimum contribution requirements. It is also the case that there are factors at work preventing target date funds from allocating to private markets. CFA Institute's winning paper explores these issues in detail, with insight into regulatory constraints and other issues that are particular to the European market.
WINNING PAPER: CFA INSTITUTE
Investing Pension Contributions in Private Markets (CFA Institute, 2020)
With fewer companies opting to go public in recent years, should defined contribution pension schemes be allowed to invest in private markets? The decision to do so is complicated by liquidity and cost constraints imposed by trustees and regulators, but the industry may be coming around to the idea. CFA Institute highlights these and other unique issues within the European pensions landscape.
HIGHLY COMMENDED PAPERS
Global Pension Assets Study 2020 (Thinking Ahead Institute)
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International Pension Plan Survey (Willis Towers Watson)
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The Purple Book: UK DB Pensions Universe Risk Profile (PPF)
For compliance reasons, this paper is only accessible in the United Kingdom
The Purple Book is a comprehensive guide to the UK defined benefit pension universe, with data on member demographics, funding levels, de-risking activities, and asset allocations within over 5,400 pension schemes.
The DC Future Book (PPI, 2020)
The DC Future Book provides a bird's eye view of the UK defined contribution market, including investment allocation trends such as an uptick in the utilisation of social bonds, thoughts on how the DC landscape itself may evolve over the coming years, and other thematic policy-related contributions from leading pension pundits.
Pensions De-risking Report: Buy-ins, buy-outs and longevity swaps (LCP, 2020)
Lane Clark & Peacock reviews de-risking actiivities within the UK defined benefit pension market during 2020. There has been a surprising amount of buy-ins, buy-outs, and longevity swaps recorded this year, despite the volatility and turmoil that beset financial markets in Q1 and Q2.
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