PT  - JOURNAL ARTICLE
AU  - William W Jennings
AU  - Steve P Fraser
AU  - Brian C Payne
TI  - Do Health Care Investments Hedge Health Care Liabilities?
AID  - 10.3905/JOI.2009.18.1.069
DP  - 2009 Feb 28
TA  - The Journal of Investing
PG  - 69--74
VI  - 18
IP  - 1
4099  - https://pm-research.com/content/18/1/69.short
4100  - https://pm-research.com/content/18/1/69.full
AB  - Investment pools are frequently designed to pay health care expenses. We examine whether health care equity investments hedge the health care liabilities of these investment pools. In contrast with conventional wisdom, we find them to be uncorrelated with medical inflation and, thus, poor hedges.TOPICS: Pension funds, statistical methods, portfolio construction