Topics of Interest

The cost of not hedging foreign currency

In The Cost of Not Hedging Foreign Currency, the first paper on currency in a series of three, we introduce the potential issues created by foreign currency exposure embedded in international assets. We then analyze how hedging, the simplest form of currency management, has historically impacted portfolios. The portfolio of foreign currency exposure embedded in… More

July 2018

Introduction to required return

Many public pension programs today are making significant, sometimes unpopular, decisions to lower discount rates and alter benefit structures to meet their funding obligations. More than ever, fiduciaries need a framework for decision-making to understand the risks engendered by these types of decisions: one that is clear, simple, and actionable. In our latest paper from… More

April 2018