| Abstract | Asset allocation dictates the long term returns of retirement schemes. It is probably the most important investment decision for trustees to make. Trustees must take into account the salary structures and age distribution of their schemes in setting the asset allocation benchmark (a guide for long term investments). The impacts of inflation, both domestic and foreign, should also be considered too. This paper presents a brief summary of a universal approach developed by the GMO group, for both pension or provident funds, which has been adopted by many international institutions. |
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