Arun Muralidhar discusses his research paper “SeLFIES: A New Pension Bond and Currency for Retirement” that presents a solution to address the inadequate structure for pension provisions in most major markets.
Podcasts
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The Retirement Security Bond: A Simple Innovation to Manage Accumulation and Decumulation of DC Assets that Meets Retirement Security
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Supercharge Me
ICPM speaks with lead policy economist Eric Lonergan, and sustainability and climate expert Corinne Sawers about their book “Supercharge Me: Net Zero Faster”. In this practical guide, Lonergan and Sawers introduce a framework to incentivise the energy transition, such as using subsidies in lieu of punitive taxes.
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Harnessing the Disruptive Power of De-Fi
Richard Olsen, CEO of Lykke Corporation argues that De-Fi will prompt a new round of cost reduction for pension plans by capturing improvements in transaction efficiency and back-office processing. He further makes the case for pension plans to use De-Fi technology to leverage their liquidity advantage, adding a new source of return.
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Sustainable Investing
Sustainable investing is top of mind these days. Investor preferences and demands are driving change at the hard-end of asset allocation and security selection. We asked Paul Smeets of Maastricht University about the research he and his fellow authors conducted into the investment preferences of pension plan members.
The results may raise a few eyebrows, but at the very least this is a must-listen for all pension plans navigating the ever-demanding world of sustainable and impact investing.
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Economics in One Virus
The policy response to the Covid-19 pandemic was improvised and reactive, and under the pressures of this one in one-hundred year event the consequences of decisions were not well considered. Ryan Bourne of the CATO institute discusses some of the key lessons from the crisis uncovered in his book Economics in One Virus.
A number of key implications emerge from his analysis that speak to the need to think-through the consequences of policy decisions and the need to correct quickly for those policy decision that have negative and unintended consequences.
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Moving Beyond Modern Portfolio Theory: Investing That Matters
In their new book Moving Beyond Modern Portfolio Theory: Investing That Matters, Jim Hawley and Jon Lukomnik argue provocatively that the guidance MPT brings to institutional investing focuses the most effort on what has the least impact. They assert with carefully chosen evidence that investors would achieve greater impact if they focused on managing undiversifiable risk rather than working hard to maximize the diversification benefit. Their immodest proposal is that investors should not accept systematic risk as unmanageable, arguing that investment activities need to be refocused on what matters.
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Campbell Harvey
We asked Cam where the Robinhood trading frenzy fits into decentralized finance, or DeFi, and whether this ostensible disruption presents a strategic and tactical challenge to the investment programs of large pension plans.
Read “DeFi and the Future of Finance” here.