Markets are changing fast—and so is the allocator landscape
Read timely insights on how the allocator landscape is changing from Oliver Wyman, State Street, and many other respected industry names. The thought leadership present below covers pension funds, insurers, and endowments.
Pension funds
Global Pension Assets Study 2025 (Thinking Ahead Institute)
How have the largest pension markets in the world changed in 2024 and how will they fare in 2025? Explore the report to find out.
The Patchwork of Eurozone Pension Systems and Budget Constraints (Amundi)
For compliance reasons, this paper is NOT accessible in the United States
Post-war pension systems in the Eurozone were developed on the basis of two distinct logics: contributions and defined benefits. Today, all systems have become hybrid.
Global Pension Report 2025 (Allianz)
For compliance reasons, this paper is NOT accessible in the United States and Canada
An increasing number of countries intends to adjust their retirement ages to the developments in further life expectancy in the long run.
Global Pension Fund Consolidation and Mergers (State Street)
Consolidation in the pension sector is a trend that has been playing out in countries around the world.
Global Pension Finance Watch – Fourth Quarter 2024 (WTW)
The final quarter of 2024 was not received in the same way by all key pension markets. Find out more in this report.
Insurers
Global Insurance Market Trends 2024 (OECD)
Building on preliminary data released in July 2024, it presents the size of the insurance industry, growth rates in premiums collected and claims paid by insurers.
Private Credit’s Next Act Is Being Fueled by Insurers (Oliver Wyman)
Insurers require investment in long-duration assets that are inflation-resistant and high quality. Does private credit have these qualities?
Backtesting Dynamic Hedging of Registered Index-Linked Annuities (Milliman)
The dynamic hedging backtest in this paper shows that for certain valuation dates, modeling dynamic hedging along the simulated scenarios can indicate the resulting P&L.
Efficient Opportunistic Credit Portfolios for Insurers – Part Two (NEPC)
Insurers often prefer to invest in separately managed accounts where they own individual securities.
Endowments
Disruptive Philanthropists (KPMG)
For centuries, the philanthropic activities of the wealthy have played an important role in societies around the world.
The 8% Solution (Charles Skorina)
Here’s the problem: over the last three decades most large endowments have tried to mimic the “Yale model”, but has this worked well?
2024 Study of Endowments (NACUBO)
Respondents to this year’s survey reported a collective endowment size of $873.7 billion as of June 30, 2024, up from the $839.1 billion reported for FY23.
Beyond the Endowment Model (True North Institute)
The question many capital owners and allocators are asking today is whether the endowment model remains the best model for achieving the typical investment goals.
