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Research Papers  How Are Spain's Pension Funds Doing?

Fernández, Pablo; Pershin, Vitaly; Fernández Acín, Pablo; Fernández Acín, Isabel While the average returns for Spain's government bonds and its benchmark IBEX-35 index were over 5 percent between 2001 and 2016, its pension funds didn't fare as well: average pension fund returns were only 2 percent over the same period. In light of this, Pablo Fernandez and his team question the funds' investment formula, management commissions and tax incentives. Read article

Research Papers  3 Steps to Find the Right Investment Mix

Estrada, Javier Asset allocation is one of the most important decisions facing investors. Finding the appropriate mix of stocks, bonds and other assets should be straightforward and intuitive, yet a bit beyond the old "100 minus your age" formula. Professor Javier Estrada offers a three-step approach to asset allocation he calls GHAUS. Read article

Research Papers  Retire the Buffett Way... With a Twist

Estrada, Javier Warren Buffett has said that 90 percent of the money he leaves to his wife should be invested in stocks, with just 10 percent in cash. If you're not a billionaire, could that asset allocation advice work for you? Professor Javier Estrada says under some conditions yes, "with a twist." Read article
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