Purpose: This study utilizes the KNV measure to evaluate performance of national pension funds of Korea. Design/methodology/approach: First, this study investigates whether fund managers pick stocks in expansions and time the market in recessions. Second, we examine skilled funds that have both...

Purpose: This study explores the relationship between the performances of national equity funds and business cycles in Korea. Design/methodology/approach: First, this research examines how fund performance is better in recessions than in expansion periods and then analyzes fund performance by...

The funding ratio is a financial indicator to measure the viability of pension funds. The paper analyzes how Swiss occupational pension funds' technical discount rate and asset allocation are related to the funding ratio. The paper shows that funds with weaker funding ratios apply higher rates...