Investment Policy for Individuals during the Decumulation Phase
Recorded at a Toronto CFA Society event
As individuals enter retirement and work with their wealth managers and investment counselors to plan the “next” phase, it is evident that traditional asset allocation strategies are not well suited to this “decumulation” phase. These strategies, founded in Modern Portfolio Theory (MPT), do not directly address the key issues of cash flow requirements, spending protection and longevity risk that are inherent during this draw down period. These issues require an on-going review of an individual’s objectives and require a more dynamic approach to asset allocation and investment strategy.
In this audiocast, D. Don Ezra reviews the key principles, risks and implications for individuals during the decumulation phase. He also discusses strategies for successfully adapting these, particularly in light of the recent market experience.
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Speaker
D. Don Ezra is global director, investment strategy for Russell Investments. He was given this wide-ranging role in 2000, reflecting the focus that investors around the world need on “big picture” issues. He provides expert insight on specific governance and financial strategy issues working with both individual clients and Russell teams serving clients.
Don is a widely published author in the pension fund industry. In addition to numerous articles and papers, his books include Understanding Pension Fund Finance and Investment (1979), The Struggle for Pension Fund Wealth (1983) and Pension Fund Excellence (1998). He has won a Graham and Dodd Award from the Financial Analysts Journal and the Roger Murray Prize from the Q Group in the U.S. In 2004, he was given the Lillywhite Award of the Employee Benefit Research Institute “for extraordinary life contributions to Americans’ economic security.” Don was an appointed delegate to the National Summit on Retirement Savings in both 2002 and 2006, and an at-large delegate from New York State to the White House Conference on Aging in 2006. He now serves on the Editorial Advisory Board of the Financial Analysts Journal and as Research Committee Chairman of the Employee Benefit Research Institute.
Don is a graduate in Mathematics from Calcutta University, holds an M.A. in Mathematics and Economics from Cambridge University and is a Fellow of the Institute of Actuaries.
This information is accurate as of the date of recording.
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Topics
- Portfolio Management
- Private Wealth Management
Details
| Length: |
1hr 19min |
| Posted: |
9/22/2009 |
| Recorded On: |
5/13/2009 |
| CE Credits: |
1 CE |
| Formats: |
|
Price (USD)
| Members: |
FREE |
| CFA Program Candidates: |
FREE |
| Standard Rate: |
FREE |