The diversification of public pension funds and educational endowments is explained by a
few stock and bond indexes alone. Alternative investments ceased to be diversifiers in the …

Large institutional investors in the United States commonly diversify their portfolios among 8
to 12 asset classes. This approach typically involves using more than 100 investment …

Endowment funds in the US, large and small, significantly underperform passive investment.
Moreover, an analysis of the performance of 43 of the largest individual endowments over …

Many studies contend that pension funds should optimally allocate at least 20 per cent of
their total assets to real estate. But actual pension funds' aggregate investment in equity real …

The author estimates that statewide pension funds in the United States incur annual
investment expenses averaging 1.3% of asset value. A sample of 24 of them underperformed …

Hedge funds are supposed to be largely market-neutral, meaning their returns exhibit
relatively little correlation with market returns. One often hears that they make money in down …

… This strategy makes no attempt to distinguish between the employment practices of the various
corporations operRichard Ennis and Roberta Parkhill are associated with Ennis, Knupp & …

This article examines the question of allocation to private equity from three perspectives;
portfolio selection theory, investor compatibility, and practice. The proportion that private equity …

Investment lore has it that there is more opportunity to earn abnormal profits from small-cap
stocks than large-cap ones-that the small-cap market is less efficient. No evidence is found …

The Journal of Investing (JOI) is a scholarly journal for the financial services industry, appealing
to both the academic and practitioner audiences. The JOI offers practical analysis and …