How to Improve Your Fund's Rate of Return
2020 was an incredible year in the capital markets. However, in the wake of very strong performance for both stocks and bonds over the past 12-months, as well as the past decade, most traditional assets are looking expensive. At the same time,...
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Emerging Markets, Localized Opportunities
While we are favorable on the overall outlook for emerging markets (EMs), there is a wide disparity in the pace and stage of their recoveries from economic disruptions caused by the COVID-19 pandemic.
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These Small-caps Likely to Benefit From Infrastructure Plan
The term "infrastructure" has come to the forefront in recent months thanks to the Biden administration's focus on renewing and improving America's physical footprint through additional fiscal stimulus. It also has a dual aim of improving the...
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4 Things Investors Should Know About US Inflation in 2021
US core inflation likely will be volatile during 2021, as underlying economic forces continue to rebalance from the pandemic. The gap between actual and potential output will limit how much inflation can ultimately rise this year, leaving the Fed ...
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How Rising Interest Rates and Stock Valuations Are Linked
Interest rates in the US have recently begun to move higher after having collapsed last year following the onset of the COVID-19 pandemic. While there are numerous contributors to the move higher in interest rates, the primary catalysts are the...
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Why the Private Credit Market is Growing Fast
As interest rates on investment grade bonds have fallen to near-zero, private credit has attracted increased interest from institutional investors. Callan expects that private credit will offer substantially higher yields and equity-like total...
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A Post-vaccine Look at Real Estate Valuations
The past year has been one of considerable disruption in the way we live, work and play. We have seen shifts in sentiment around the value of the real estate in which we conduct these daily activities.
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What is Energy?
What comes to mind when you hear someone mention energy investments? Most likely and especially in this state, thoughts turn to oil and gas. Investments might include stock in companies like ExxonMobil or Valero, maybe an allocation to an MLP...
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Your Pension Fund's ESG Policy and Strategy
What do pension funds in Australia, France, Sweden and Texas have in common? Definitely not their asset allocation, level of transparency, governance system or cost structure. One thing they all have in common is an ESG, or Environmental, Social...
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Will Work-from-home Change the Future of Office Space?
With vaccines rolling out across the globe, many see a light at the end of the tunnel for the COVID-19 pandemic. But government-imposed lockdowns and social distancing restrictions in response to the pandemic have had major effects on the working ...
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How Do You Generate Alpha in the Intangible Economy?
As of December 2020, the world's four largest companies by market capitalization are Apple, Microsoft, Amazon and Alphabet.[1] They are representative of the intangible economy, where the majority of a company's value is created by intangible...
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The Future of the Service Provider Evaluation Might...
The process of evaluating investment managers has evolved in the last several decades. In addition to comparing a manager to its benchmark, investors can compare peer groups, other investment products, and even factor-based funds to see how their ...
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Don't Be Afraid of the Inflation Bogeyman
TEXPERS invited two experts with Putnam Investments, an Associate member of the association, to discuss inflation expectations. Shep Perkins, CFA, is Chief Investment Officer of Equities at Putnam and Donald E. Perks is a Quantitative Analyst...
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Signs of Life in the Hospitality and Real Estate Markets
Throughout the pandemic many areas of real estate have suffered under the myriad of lockdowns and capacity restrictions needed to slow the progression of the virus. Office, retail and hospitality have all been hit especially hard.
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2020 Developments in Securities Litigation Outside the US
While the world may have been on lockdown for most of 2020 due to the global COVID-19 pandemic, there were significant developments in non-U.S. securities litigation. First, an overview of 2020 securities settlements provides important context:...
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Is Now the Time to Buy Fixed Income?
Despite the Federal Reserve's promise to keep the federal funds rate low and support the bond market via quantitative easing, interest rates have seen an acute increase since August 2020. The yield on the 10-year Treasury was 0.52% on August 4...
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What You Should Know About the Sustainability Revolution
The world is aggressively seeking sustainability. While the topic has been around for perhaps a decade, the "awakening" really hit the public consciousness in 2020 and has now become a mega-theme. It's transitioning into a revolution and...
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The Dangers of Relying on Custodians to Collect Class...
Institutional investors-including public pension funds, Taft-Hartley funds, mutual funds, and hedge funds-have a fiduciary obligation to recover monies lost through investments in public securities as the result of corporate mismanagement and/or...
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Special Room Block Rate Expires May 7 - Register Today!
The Texas Association of Public Employee Retirement Systems' 2021 Annual Conference will be held May 23-26 in Austin, Texas. Registration is open.
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About Us
The Texas Association of Public Employee Retirement Systems (TEXPERS) is a statewide voluntary nonprofit association that provides education and legislative advisory services to the trustees, administrators, professional service providers and employee groups that manage the retirement money of police, firefighters, municipal and district employees in cities across Texas.
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