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- Title
Public Pensions Show Little Interest in Bond Indexing.
- Authors
Elebash, Clarence C.
- Abstract
Public pension funds play a major role in the U.S. financial markets. State and local pension funds are big users of stock index. However, they typically show little interest in indexing their bond portfolios. The author of this article summarizes the results of his survey of large state and local government pension plans. The findings seek to report that their attitudes toward fixed income indexing are lukewarm, and they are not inclined to add to their holdings of bond index funds. The increased use of stock indexing by large institutional investors may be a threat to an efficient stock market. It appears that bond indexing is very unlikely to affect the efficiency of bond markets.
- Subjects
UNITED States; PENSION trusts; INVESTMENT analysis; BOND index funds; PENSION trust management; PORTFOLIO management (Investments)
- Publication
Benefits Quarterly, 1994, Vol 10, Issue 1, p56
- ISSN
8756-1263
- Publication type
Article