%0 Journal Article %A John Moore %A Aran Murphy %T Managing Exposures in Discontinuous Markets %D 2010 %R 10.3905/joi.2010.19.2.116 %J The Journal of Investing %P 116-120 %V 19 %N 2 %X Pension funds moving from one manager or mandate to another face market risk exposure during the transition. The risks increase when moving across time zones and borders. As one market closes and time elapses before the opening of the next, investors are exposed to risks with inadequate payoffs. Adept exposure management can significantly reduce these market risks.TOPICS: Risk management, portfolio construction, exchanges/markets/clearinghouses %U https://joi.pm-research.com/content/iijinvest/19/2/116.full.pdf