General Reports

2010 Asset Class Assumptions Report (434 KB)

February 2010 by Pension Consulting Alliance, Inc.
John Linder, CFA, CPA and Neil Rue, CFA

Developing Expected Return and Risk Assumptions will develop our approach for developing expected average annual returns, risks and correlations for and among several asset classes.

Developing Expected Return and Risk Assumptions, Copyright 2010 Pension Consulting Alliance, Inc.

2010 Ten-Year Return, Risk, and Correlation Assumptions (36 KB)

PCA's Nominal 2010 Asset Allocation Assumptions

2010 Ten-Year Return, Risk, and Correlation Assumptions, Copyright 2010 Pension Consulting Alliance, Inc.

The Role of Assets (571 KB)

Updated as of 12-31-09
by Pension Consulting Alliance, Inc.

The Role of Assets, Copyright 2010 Pension Consulting Alliance, Inc.

A Brief Review of Institutional Investment Strategy and How We Might Change It (111 KB)

May 2009 by Pension Consulting Alliance, Inc.
Neil Rue, CFA

A Plan For Private Equity Investors (33 KB)

March 2009 by Pension Consulting Alliance, Inc.
Mike Moy

A Plan For Private Equity Investors, Copyright 2009 Pension Consulting Alliance, Inc.

PCA Infrastructure Newsletter October 2008 (49 KB)

October 10, 2008: Effects of the credit crisis, fund pricing and regulation

PCA-EFI Brief on Financial Econonmics Applications to Liabilities (26 KB)

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

PCA Infrastructure Research Report (237 KB)

June 2007 by Pension Consulting Alliance, Inc.
Judy Chambers

Investment in infrastructure assets is a new and growing area of investment opportunity for U.S. institutional investors as the investment community is witnessing an influx of newly formed vehicles and structures. While investments in the infrastructure sector originated in Australia and have been very active in Canada and the United Kingdom for over a decade, the United States is only now beginning to embrace the investment strategy. Infrastructure investments have unique risk and return characteristics to support the sector being either a separate asset class or a part of an inflation-linked asset class. Pension plans may play an integral role within the infrastructure market. This paper addresses the history, characteristics, opportunities and challenges U.S. pension plans may encounter in the infrastructure sector.

Infrastructure Research Report, Copyright 2007 Pension Consulting Alliance, Inc.

A Review of Developing Managers (411 KB)

April 2003 By Pension Consulting Alliance, Inc.
Allan Emkin, Neil A Rue, CFA, Jeremy Thiessen & Sandra Parker

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.

A Survey of Asset/Liability Practices and Thinking (35 KB)

July 2002
by Neil Rue, CFA, Principal

A Survey of Asset/Liability Practices and Thinking, Copyright 2003 Pension Consulting Alliance, Inc.

Actuarial Trends in Corporate America (25 KB)

May 2002
by Neil Rue, CFA, Principal

Actuarial Trends in Corporate America, Copyright 2002 Pension Consulting Alliance, Inc.

A Due Diligence Questionnaire (387 KB)

1999 By Pension Consulting Alliance, Inc.
Neil A. Rue, CFA
Allan Emkin

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.