This paper assimilates the knowledge and evidence on target-date mutual funds (TDFs). It
begins with a discussion of the environment that contributes to the tremendous growth of …

Volatile corporate bond credit spreads have caused a dislocation of corporate bond-based
pension discount rates from the rates of commonly used interest rate hedging tools and have …

This special issue of The Journal of Investing presents a set of articles that addresses some
facets of the complex issues around liability-driven investment (LDI). Given the complexity of …

We define Level 2 LDI implementation as implementation done with an explicit liability
benchmark and, often times, with the use of derivatives. We find that successful Level 2 LDI …