Out of retirement



Pension investing has undergone tremendous change over the past 20 years. Ideas that would have been unheard of in the 1980s are now part of the fabric of institutional investing. Collectively, developments in demographics, finance theory, capital markets and the regulatory structure have prompted institutional investors to revisit both the levels and sources of active risk they are taking, broaden their asset class exposures, relax their investment guidelines and make broader use of risk ma