Ralph Haberli

Many retirement systems around the world stand at a critical juncture, and reform needs to be prioritized in many countries. The Mercer CFA Institute Global Pension Index examines the state of retirement systems. This report analyzes global pension programs and grades them based on a key criteria: adequacy, sustainability, and integrity. For the second year in a row, The Netherlands received the highest overall grade, with Iceland and Denmark close behind. This year’s report also delves into the transition from defined benefit (DB) plans to defined contribution (DC) plans. The report explores the opportunities and challenges associated with DC plans for both pension plans and individuals. I think this proves the need for well-trained, ethical advisors to help those clients who may lack the expertise or the financial literacy to craft a solid retirement plan. To check out the report, please see the link in the comments. #Pension #RetirementPlanning #GlobalFinance

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An excellent reminder about the benefits of multi-manager investing from Megan Roach, CFA. Multi-manager, multi-style investing is not a new idea. It’s the way institutional investors, such as defined benefit (DB) plans, have been investing for decades. DB plans would never invest all their assets with one underlying investment manager – especially across asset classes, but not even within asset classes. This is a lesson learned long ago by many large defined contribution investment committees, and a strategy that should be considered by plans of all sizes. Happy National 401(k) Day! #National401kDay #401k #definedcontribution #DC #retirement #savings

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Granolas can offer more diversity versus the Magnificent 7. Important disclosures: https://bit.ly/2JzEDWl .

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Our recent paper “Managing the Total Portfolio: An Integrated Approach” sets out how Mercer thinks about managing capital effectively. In contrast to some recent industry commentary, at Mercer we don’t think clients should abandon strategic asset allocation as a fundamental part of the investment process. We believe: -         Clear identification of investment objectives should be the first step in managing the total portfolio. Clients care about different risks, so a key part of this process is identifying the risks that matter most. -         Asset classes consist of different combinations of underlying factors. Establishing the right factor mix that is optimal to deliver the investment objectives is a critical part of total portfolio management. -         Defining the optimal factor mix in asset class weights, and communicating this as the strategic asset allocation, is easier to understand and more implementable in practice. Crucially, communicating this way does not mean being constrained by asset class categorizations. -         Managing capital effectively involves a range of distinct tasks that require specialist skills. These tasks include SAA, manager selection and dynamic asset allocation. -         Bringing together specialists to accomplish a range of roles requires coordination in the form of a robust governance structure that incorporates total portfolio oversight and risk management. -         Ultimately, we believe the benefits of specialisation outweigh the additional co-ordination challenges this approach brings.   -         Cultural alignment and clear accountabilities both contribute to the effectiveness of the whole. Please take a read and let us know what you think! Michael Cross Nathan Struemph Niall OSullivan https://lnkd.in/eBwknEub

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Looking for insights that could sharpen your investment strategy heading into 2025? Join PIMCO experts Libby Cantrill, Head of Public Policy and David Hammer, Head of Municipal Bond Portfolio Management at #SchwabIMPACT®️ on November 20 for an in-depth analysis of how U.S. presidential election results may affect policy, taxes, and municipal bonds.

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My colleague and Fidelity portfolio manager, Bill Kennedy, shared his thoughts on an emerging sustainable investing theme: https://bit.ly/4hb05gb Bill’s thesis is that gas producers may see accelerated earnings growth, driven in part by tax credits from the 2022 Inflation Reduction Act for U.S. companies willing to reduce their carbon emissions. He’s keenly interested in companies that produce hydrogen; an alternative fuel that significantly reduces carbon emissions compared with the traditional fossil fuels used in heavy industry. Kennedy believes the magic lies in how they produce this hydrogen—using either electricity generated from renewable energy sources (green hydrogen) or natural gas with carbon sequestration (blue hydrogen). In doing so, Kennedy contends, these firms are cutting down on emissions by capturing carbon generated from an industrial activity.

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Rich Nuzum explores key findings from the recently released, 2024 Mercer CFA Institute Global Pension Index that analyzes 48 pension systems, using more than 50 indicators. Download the report: https://lnkd.in/eKBVA3HR #retirement #pensions #savings #longevity

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When fundamental value creation becomes the largest driver of performance, investors may want to go where it’s always mattered most. Learn why we believe the U.S. middle market will continue to provide an attractive opportunity set versus large and mega cap managers in this new article. https://bit.ly/4cvujHe #PrivateEquity #MiddleMarket

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Check out the Q2 2024 Business Cycle Update from my colleagues on Fidelity's Asset Allocation Research Team: https://bit.ly/4dgaMeP Many major economies, including the U.S., remained in the late-cycle expansion phase and registered hints of stabilization and even reacceleration in some areas. Expectations of monetary easing have contributed to improving global financial conditions, and worldwide manufacturing activity has firmed. China remained an outlier, as it continued to ease policy in hopes of reaccelerating from its growth slump.

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With the #FederalReserve set to cut rates after the sharpest hiking cycle in decades, we may be witnessing a return to normalcy as inflation stabilizes – and opportunity. Historically, #bonds have performed well during rate-cutting cycles, especially in periods of economic weakness. Explore our latest perspective for more on Fed policy and fixed income performance: https://bit.ly/3MQlhdw

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⭕ Harnessing the Power of Ichigo Ichie (一期一会) In this year’s President’s Letter, I reflect on the markets, the balance between long-term resilience and short-term adaptability, and our excitement about the opportunities ahead. 📊 Link to full letter is below Orbis Investments

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What’s in store for fixed income? And what differentiates MFS’ approach? Discover our views on the current macro environment and the three characteristics essential to seeking alpha and meeting client expectations. bit.ly/4fCQIF1.

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“Ambitious professionals often have a good sense of how to prepare themselves for the next step in their careers. But if that next step is the boardroom, the path can seem intimidatingly opaque. After all, you don’t exactly encounter board-membership opportunities on LinkedIn or via your local job board.” https://lnkd.in/evEEDJqp

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Personalization, auto features, and addressing racial gaps can strengthen the retirement system. Learn how in our commentary in the The New York Times.

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After April’s volatility, you won’t want to miss the latest Straight Talk. Join Brad Rutan and Equity Portfolio Manager Nevin Chitkara as they explore: - Current market environment - Importance of downside risk management - Understanding what you own bit.ly/3wkoflS.

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As we have alluded to before, a smooth sea never makes a skilled sailor, and markets have been anything but smooth as of late. Contributing to the rough seas this go-around is uncertainty in federal reserve policies, ongoing geopolitical tensions, global economic concerns, and a lack of general market sentiment involving corporate earnings and growth expectations. With these factors causing markets to whipsaw, a well-balanced approach to investing, helmed by seasoned market veterans, may help to right the ship and mitigate portfolio volatility. As volatility has found its way back to markets and seems likely to stay, HedgeWeek notes that hedge funds have found their way back to popularity with allocators, having hit record asset levels through midyear. However, not all hedge fund strategies are created equal, as investors have indicated that a particular strategy is more attractive than others: multi-strategy hedge funds. Learn more about this strategy in our latest insight: https://lnkd.in/exk_dK8i For registered investment advisors only. IMPORTANT DISCLOSURE: https://lnkd.in/e3VJtU2Q

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