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Library » Are Active Managers Doing Their Job?

March 25, 2015 | Active Management

Introduction Since the market downturn of 2008, active equity managers have come under fire. Not only did many of these managers fail to provide meaningful downside risk management relative to market indices during the credit crisis, but most have failed to keep up with their benchmarks as the …

Library » Defining a Market Cycle

December 05, 2014 | Market Commentary

Introduction Performance measurement is one of the most discussed topics in the investment industry. For example, if an investment has strong returns over the past 12 months, is it a good investment? What if returns are attractive over three, five, or ten years? Before answering this question, …

Library » Modern Portfolio Theory: Expectation vs. Reality

November 26, 2014 | Active Management

MPT Background Academic studies have shown that the asset allocation decision accounts for a meaningful portion of long-term portfolio returns1. As such, the asset allocation decision remains the central element of portfolio construction in the investment industry today. While there are numerous …

Library » Basics of Corporate Pension Plan Funding

September 17, 2014 | Active Management

Introduction In general, a pension plan is a promise from a Plan Sponsor (often the employer) to participants (employees) of benefits to be paid during retirement. Pension plans are often used to attract and/or retain employees. Additionally, many plans are implemented or maintained for the tax …

Library » Constructing Performance Benchmarks for Life Cycle Options

September 10, 2014 | Retirement Plans

Introduction Active multiple asset class managers generally employ relatively flexible investment mandates, allowing them to invest in a variety of asset classes in varying degrees based on changing market conditions. Performance benchmarks must reflect both the overall asset allocation ranges …

Library » Manning & Napier’s Target Date Strategies as a Qualified Default Investment Alternative (QDIA)

June 05, 2014 | Retirement Plans

Introduction The provisions of the Pension Protection Act (PPA) of 2006 defined target date funds as one of three types of qualified default investment alternatives (QDIA) for use in qualified retirement plans. While the final regulations require plan fiduciaries to meet several technical and …

Library » Types of Qualified Plans

May 20, 2014 | Retirement Plans

Before adopting a qualified plan, an employer should first understand the various types of plans available, so that a plan that best meets the employer’s goals and objectives can be chosen. Qualified plans come in two basic flavors: Defined Contribution (DC) Plans and Defined Benefit (DB) Plans. …


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