RT Journal Article
SR Electronic
T1 Do Health Care Investments Hedge Health Care Liabilities?
JF The Journal of Investing
FD Institutional Investor Journals
SP 69
OP 74
DO 10.3905/JOI.2009.18.1.069
VO 18
IS 1
A1 William W Jennings
A1 Steve P Fraser
A1 Brian C Payne
YR 2009
UL https://pm-research.com/content/18/1/69.abstract
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