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Responsible Investing - General Considerations and Implications for Fixed Income

This document evaluates arguments in favour of "responsible investing", but also illustrates the difficulties in defining this term.


Challenges Pension Funds Face due to Low Interest Rates

Risk-averse asset-only investors should go for short duration as risk return is distributed highly asymmetrically.


Currency Risk and Implications for Swiss Pension Funds

The suspension of currency hedging is a tactical decision. As the CHF is a traditional safe haven, currency risk can be substantial during tail events. Therefore, it is very difficult to weight the cost savings to the additional risk.