![]() ResearchRecent Market Conditions
Updated 10/10/08. Review of the worst calendar week on record for U.S. public equity market performance.
Updated 10/7/08. A brief perspective, comparing recent market results with a few other major market declines occurring over the last five decades.
Updated as of 9/30/08. Market performance in light of certain market crises as exhibited by the VIX index (a measure of implied volatility on the S&P 500)
Infrastructure Newsletters
Quarterly Economic Reviews
Updated as of 3rd quarter 2008
Updated as of 2nd quarter 2008 Quarterly overviews of national economic activity, as well as brief analyses of the domestic equity, international equity, real estate, and fixed income markets. Economic Review, Copyright 2008 Pension Consulting Alliance, Inc.
General Reports
Updated as of 06-30-08 The Role of Assets, Copyright 2008 Pension Consulting Alliance, Inc.
September 2008 by Pension Consulting Alliance, Inc. (PCA) and EFI Actuaries, Inc. (EFI) The debate on how to measure and account for public pension plan liabilities. Should public funds move to a financial economics-based liability discount model? PCA-EFI Brief on Financial Economics Applications to Liabilities, Copyright 2008 PCA and EFI
June 2007 by Pension Consulting Alliance, Inc. Infrastructure Research Report, Copyright 2007 Pension Consulting Alliance, Inc.
January 2007 by Pension Consulting Alliance, Inc. Developing Expected Return and Risk Assumptions discusses PCA’s approach to developing expected average annual returns, risks, and correlations for and among several asset classes. In particular, this research brief discusses expectations about investment returns, risks, and co-movements for a variety of asset classes. Developing Expected Return and Risk Assumptions, Copyright 2007 Pension Consulting Alliance, Inc.
April 2003 By Pension Consulting Alliance, Inc. This paper provides a reasonable review of developing manager concepts and practices. It is meant to provide key findings and some opinions that should spark further discussion on this matter. A Review of Developing Managers and Developing Manager Programs, Copyright 2003 Pension Consulting Alliance, Inc.
July 2002 A Survey of Asset/Liability Practices and Thinking, Copyright 2003 Pension Consulting Alliance, Inc.
May 2002 Actuarial Trends in Corporate America, Copyright 2002 Pension Consulting Alliance, Inc.
1999 By Pension Consulting Alliance, Inc. In early 1998, thirteen large pension funds asked Pension Consulting Alliance to survey a wide spectrum of large pension funds about their private equity due diligence practices. One important outgrowth of the review is a questionnaire that investors could use as part of preliminary due diligence. This questionnaire helps to ensure that information is provided in a consistent format, calculated using the same methodology, provides certain information, and thereby provides a means for investors to have a method to access partnership opportunities on a consistent basis. A Due Diligence Questionnaire, Copyright 1999 Pension Consulting Alliance, Inc.
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