Global Pension Transparency Benchmark

An Empirical Analysis of the Drivers of Record Keeping Cost in U.S. Defined Contribution Plans

Recordkeeping cost in our $1.3 trillion DC database vary widely, from $20 to $80 per participant annually. This analysis explains this variance from a line-up and plan characteristics perspective: Key cost drivers include economies of scale, managed accounts, and...
Global Pension Transparency Benchmark

Should Canada Require its Pension Funds to Invest More Domestically?

This report examines the domestic vs. international breakdown of investments for Canadian pension funds, and barriers to domestic investment. It finds the proportion of Canadian listed equity and fixed income holdings is relatively high compared to the global share of...
Global Pension Transparency Benchmark

Market efficiency and value added by listed and unlisted U.S. institutional investor real estate portfolios

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...