Aglietta, Michel; Brière, Marie; Rigot, Sandra; … - Université Paris-Dauphine (Paris IX) - 2012
, and active portfolio management. We use a unique database covering the asset allocations of US defined-benefit pension funds … pension funds’ sources of performance. While the previous literature emphasized that policy allocation accounts for the bulk … contribution of active managem ent as a source of performance for pension funds, at least at the asset class level. …