by Alexander D. Beath, Maaike van Bragt | May 18, 2024 | Research
CEM research shows that institutional investors of sufficient size tend to outperform the market over long periods of time. The ability to outperform benchmark returns stems partly from the structural advantages; investors with more scale, more actively managed...
by Alexander D. Beath | Dec 18, 2022 | Research
Of the $34.9 trillion of retirement assets in the United States at the end of 2019, approximately $7.1 trillion were held in public sector defined benefit (DB) funds and $3.4 trillion were held in corporate sector DB funds. This work was commissioned by Nareit®. The...
by Alexander D. Beath | Jan 8, 2015 | Research
Can large institutional investors beat the market and deliver added value above and beyond their benchmarks? We answer this question using a massive data set comprised of 6,666 samples drawn from a global set of defined benefit pension plans along with a handful of...
by Alexander D. Beath, Chris Flynn, Rotman International Journal of Pension Management | Apr 8, 2014 | Research
This article describes a study that analyzed the private equity performance and costs of large pension funds. Using data from the CEM Benchmarking Inc. (CEM) database, we establish that implementation style affects net performance: internal management outperforms...
by Alexander D. Beath, Rotman International Journal of Pension Management | Apr 8, 2013 | Research
This survey-based study looks at the risk-management practices of large pension funds, relying on responses from 27 funds around the world with total assets of US$2.7 trillion. The primary driver for differences in the number of full-time equivalent risk-management...
