Empirical duration data can be used to check whether models for mortgage-backed securities are accurately measuring interest-rate risk.

Office and retail investments’ historic dominance of commercial real estate portfolios is decreasing, with other property types — including logistics centers, student housing, and data centers — increasing. This evolution highlights how technology and the search for yield have led investors to diversify and seek exposure to other property types.

Risk managers remain focused on liquidity risk, as the 2008 financial crisis showed how liquidity can deteriorate quickly. But could investors underestimate their risk by looking solely at changes in bid-ask spreads and overlooking market impact?

It may be time to move beyond traditional explanations for risk and return differences between target-date funds with the same target retirement date.

Has global diversification or home bias helped reduce risk in the fixed-income portfolios of defined-benefit pension plans? We analyzed more than a decade of data to gauge the risks of domestic-only and globally diversified bond portfolios.

Media commentary has fixated on the shuttering of shops, while retail-focused REITs are priced at substantial discounts to the value of their assets. Have appraisers of retail real estate been excessively bullish?