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The Ambachtsheer Letter Issue:
June 2006

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Building Better Pension Plans

 

Pension Reform Around The World: Who Is On The Right Road?
 

Turning Retirement Savings Into Pensions: How Much Should It Cost?
 

Tomorrow's Pension Fund
 

The 'Ideal' Pension World: What Does it Look Like and How Do We Get There?
 

Turning Life-Cycle Finance Theory on Its Head
 

Can Traditional DB Plans Be Saved? ... Should They Be Saved?
 

Reforming Pension Design and Delivery: Lessons from Australia
 

Pension Reform: Towards a Global Pension ’Gold Standard'

 

The Geneva Report on Pension Reform
 

Pensions, Creativity, and Innovations: Breaking Down The Barriers
 

The Turner Pensions Commission Report: A Blueprint for Global Pension Reform

 

Peter Drucker's Pension Legacy: A Vision of What Could Be

 

Pension Reform: Evolution or Revolution?

 

Winning The Pension Revolution: Why The Dutch Are Leading The Way

 

Peter Drucker’s Pension Revolution After 30 Years: Not Over Yet

 

DB Plans And Bad Science

 

Building Pension Plans For The Real World: The Efficient Personal Pension Accumulation Model

 

Human Foibles And Agency Dysfunction: Building Pension Plans For The
Real World

 

The Monsanto Decision: Boon Or Bane For Canada's Pension System

 

The United Airlines Case: Tipping Point U.S. Pension System?

 

If DB And DC Plans Are Not The Answers, What Are The Questions?

 

The Pension Revolution...Are You A Believer Yet?

 

Redesigning DB Pension Plans: The Case for ‘Risk-Sharing Co-Operatives'

 

Building Better Pension Plans: The Cases of TIAA-CREF, IWA-Forest Industry, OntarioTeachers', And Boots

 

Can Game Theory Help Build Better Pension Plans?

 

The Movement To DC Pension Plans: Boon Or Bane?

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Pension Fund Goverance & Organization Design

 

Regulating Compensation at Financial Institutions: Advice for The Financial Stability Forum
 

Risk in Pension and Endowment Funds: Principal Interests and Agent Responsibilities
 

Looking Across The Abyss: Pension Design And Management In The 21st Century
 

Government and Pension Fund Governance: Moving In The Right Direction?
 

Effective Decision-Making in Financing Institutions: How Pension Funds Can Lead The Way

 

The CFA Institute 'Code of Conduct'  For Members of Governing Boards of Pension Plans: A Critical Assessment

 

The Clapman Report on Pension Fund Governance:
Why Its 'Best Practices' Principles Fall Short
 

Can The Legal and Functional Viewpoints Be Reconciled?
 

How Much is Good  Governance Worth?
 

High Performance Cultures: Impossible Dream for Pensions Funds?

 

Eradicating 'Beauty Contest' Investing: What Will It Take?

 

'Beauty Contest' Investing: Not Dead Yet'

 

Value-Creation In Pension Plans: A Five-Point Checklist (Ii)

 

Value-Creation In Pension Plans: A Five-Point Checklist (I)

 

Beyond Portfolio Theory: The Next Frontier

 

After The Perfect Pension Storm: What Now?

 

Should (Could) You Manage Your Fund Like Harvard Or Ontario Teachers?

 

Improving Pension Fund Performance: What Really Matters

 

Reinventing Endowment Fund Management

 

Funding Policy And Investment Policy: How Should They Be Integrated In
DB Pension Plans?

 

Reinventing Pension Fund Management: Easier Said Than Done

 

Rethinking Funding Policy And Regulation: How Should Pension Schemes
Be Financed?

 

Pension Funds And Investment Firms: Redefining The Relationship

 

Are Pension Funds 'Irrelevant'?

 

Making Pension Plan Organizations 'Competitive'

 

Is 'Economic Valuation' The Key To Saving DB Pension Plans?

 

Two Tales Of OneCity: How Should The Pension Business Be Managed?

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Investment Beliefs and Capital Markets Prospects

 

Expectations Markets or Real Markets? Which Should Pension Funds Invest In?
 

Investing For The Long Run: A 'Micro' Perspective
 

Investing For The Long Run: A 'Macro' Perspective
 

The Fundamental Indexation Controversy: Not Over Yet
 

The Sub-Prime Crisis as a 'Predictable Surprise': Lessons To Be Learned

 

Sovereign Wealth Funds: Friends or Foes?
 

Investment Beliefs and Black Swans: Are Our Perceptions of Reward and Risk Too 'Normal'
 

Investment Beliefs in The 21st Century: Separating Signal From Noise
 

The Index Fund Weighting Controversy: Is Fundamental or Capitalization
Based Better?

 

The Post-Bubble Blues Decade: A Progress Report

 

Prof. Malkiel And The New Investment Paradigm: Raining On The Parade?

 

"But What Does The Turtle Rest On?" A Further Exploration Of Investment Beliefs"

 

Our 60-40 Asset Mix Policy Advice In 1987: Wise Or Foolish?

 

Whose "Investment Beliefs" Do You Believe?

 

Rethinking 'Investment Styles'

 

The Fuss About Policy Portfolios: Adrift In Institutional Wonderland

 

‘The ‘Post-Bubble Blues Decade’: Is All The Bad News Already In Stock Prices?'

 

Persistent Investment Regimes’Or ‘Random Walk’? Even Shakespeare Knew

The Answer

 

Stocks For The Long Run...Or Not?

 

The 10% Equity Return Illusion: Possible Consequences

 

September 11: Truths And Consequences

 

Investing Without An Equity Risk Premium: A Brave New World

 

Thinking The Unthinkable: Risk In The 21st Century

 

An Equity Risk Premium For The 21st Century

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Pension & Risk Management

 

Rethinking Pensions in America: Adequacy, Risk Bearing, and Institutional Structure
 

Rethinking Pension Regulation and Supervision: Towards A Risk-Based Approach
 

Pensions As Embedded Options: A Case of Curious Contracts
 

Financial Economics And Actuarial Practices: Why They Must Converge

 

Adjusting Investment Returns For Risk: What’s The Best Way?

 

But What About Risk?

 

Shifting The Investment Paradigm: A Progress Report

 

Funding Policy And Investment Policy: How Should They Be Integrated In DB
Pension Plans?

 

Rethinking Funding Policy And Regulation: How Should Pension Schemes
Be Financed?

 

The New Pension Fund Management Paradigm: Feedback From Financial Analysts

 

Are Pension Funds 'Irrelevant'?

 

Paradigm Found: Reinventing Asset Allocation

 

Paradigm Found: Reinventing Active Investment Management

 

Paradigm Found: Reinventing Core Equity Funding

 

Is 'Economic Valuation' The Key To Saving DB Pension Plans?

 

An Asset Is Policy For The 21st Century

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Measuring Results

 

Scale in Pension Fund Management - Does it Matter?
 

New Research Findings from The CES Databases
 

What Drives Pension Fund Performance? Insights From The CEM Database
 

Resurrecting RANVA: Adjusting Investment Returns For Risk

 

An Anatomy Of Pension Fund Behaviour (1993-2002): What Can We Learn?
(Part II)

 

An Anatomy Of Pension Fund Behaviour (1993-2002): What Can We Learn?
(Part I)

 

Monitoring DC Plans As 'Value Propositions': The New Imperative For
Plan Sponsors

 

Rethinking Risk Management And Measurement

 

DC Plan Performance: Learning From 1997-2000 Experience

 

U.S. Pension Fund Performance 19962000: What's The Real Story?

 

Investment Benchmarking: Does It Need Reinventing?

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The Political Economy of Pensions & Investments

 

Investing For The Long Run: A 'Micro' Perspective
 

Turning Retirement Savings Into Pensions: Should We Let 'The Market' Sort It Out?
 

The $300 Billion 'Haircut' : How Mutual Funds Shrink Pensions
 

Pension Funds and The "SRI" Movement: Still Ships Passing In The Night?
 

Corporate DB Plans, LDI Strategies, And The DOL

 

Alpha, Beta, Bafflegab: Investment Theory As Marketing Strategy

 

Is SRI (Socially Responsible Investing) Bunk?

 

Reconnecting GAAP And Common Sense: The Cases Of Stock Options
And Pensions

 

Improving Institutional Investing: Will The Myners Review Help?

 

Whither Security Analysis?

 

Is AIMR Too 'Sell-Side'?

 

When Investment Professionals Lose Their Way: The 'High Closing' Case At
RT Capital

 

Does The British Pension 'Industry' Need Fixing?

 

Public Pension Fund Power: For Good Or For Evil?

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