The literature on investment horizon is reviewed in order to enhance the understanding of potential influences on long-term investing by institutional investors. Investment horizon reflects an inter-connected web of influences related to an investor's circumstances, the design of the investing...

Default investment options in retirement plans are a potent influence on member choice. Little is known about how plans set them. We investigate how retirement plan providers choose default investment strategies for passive members. We interview plan executives and survey members during a review...

Investment risk is addressed from the perspective of long-term investors, with key concepts being discussed and methods outlined for evaluating risk over long horizons. The main themes include: the need to focus on shortfall versus objectives and sources of sustained loss, rather than return...

We investigate optimal investment and drawdown decisions in retirement, and show that the asset mix and drawdown strategy vary significantly with financial circumstances and preferences. Loss aversion preferences lead to hedging strategies to secure the target consumption through use of...

Effective incorporation of socially responsible investing (SRI) into student-managed investment fund (SMIF) programs is discussed in the context of a case study. The experience of the example SMIF suggests some techniques to enhance the learning experience. These include: students developing...

We examine the relation between cross-sectional stock return dispersion and active fund performance in Australia, drawing on the concept that higher return dispersion provides greater opportunity for skilled managers to generate value. In contrast with findings using US data that outperformance...