How to build protection in your investment policy

Article Abstract:

A financial portfolio's success or failure is conditioned by adherence to the policy statement and its structural integrity. Pension trusts are easily vulnerable to strong financial market changes when they carry no policy statement or have a poorly organized one. Such a problem is reflected in the recent cases involving derivative losses of Barings in Singapore, Orange County, CA, and the states of Wisconsin and Connecticut. Establishing a policy statement helps firms use asset classes within a market's risk limits.

Investment Banking and Securities Dealing, Portfolio & Funds Management, Cover Story, Financial instruments

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How to help employees plan ahead

Article Abstract:

Employees who consider reviewing their employers' pension plans close to retirement may be shocked by unexpected plan conditions or by inadequate pensions for maintaining a standard of living. These cases can be avoided by preretirement planning for younger employees. Such programs have been driven by the creation of more salary-reduction savings plans that shift investment responsibility to the employee. The development of new adaptive skills and the need for more money have also spawned earlier retirement planning.

Retirement planning, Employee benefits

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Managed futures: why the strategy survives

Article Abstract:

The Sand Diego County Employee's Retirement Assn. (SDCERA) has decided to retain its managed futures investment program despite reports that other large companies have dropped their own programs. SDCERA believes that managed futures allows portfolio diversification with few of the risks involved in having different assets. Other advantages of managed futures lie in the fact that they do not require funding and are more dependent on market research and can be made to be cost competitive.

Pension, health, and welfare funds, Investments, Institutional investments, San Diego County Employees Retirement System

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