Description: In this paper the researchers analyze pension plans for three countries (Canada, the UK, and the US) using an ESG that includes a demographic ratio that has been defined consistently for all countries. In that regard the paper extends the literature and opens areas for future research.

Description: The Society of Actuaries’ Committee on Finance Research and Joint Risk Management Section Research Committee are pleased to make available a research report developing a framework for quantifying and analyzing various forms of contractual designs.

Description: This paper summarizes default experience on bonds from 1900 through 1987. Although the information is more extensive for publicly traded bonds, the paper includes some information on private placements, some of which is not otherwise available.

Description: This paper considers two principles which at present are given little weight in accounting for investments: 1. the reported earnings of a business entity should not change solely because an investment is sold at a capital gain or loss and the proceeds are reinvested, and 2. the accounting treatment of common stock investments should not vary according to the portion of the issuer's outstanding common stock which the investment represents. The implications of these principles are explored in accounting for bonds, stocks and business combinations. A discussion of this paper is included.

Description: Investment Fallacies: The Myth of Time Diversification

Description: Investment Fallacies: Future Equity Returns

Description: The article discusses the characteristics of the high-yielding bank loan asset class.

Description: Measuring Fair Value for Participation Units of Stable Value Pooled Funds

Description: Municipal Reinvestment Contracts by Victor Modugno from Risks and Rewards Newsletter, September 2000, Issue No. 35.

Description: This is a book review of Uncertain Times: A Chief Investment Officer's Journey, by Alton R. Cogert.