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Behavioural Aspects of Institutional Investment Decision-Making

The Institute and Faculty of Actuaries (IFoA), through its Actuarial Research Centre, is inviting research teams and organisations to submit proposals for a research project on behavioural finance.

Timeline:

Opening date 20 February 2017
Closing date 21 April 2017 (17.00 UK time, BST)
Expected award Mid May 2017
Expected commencement June 2017 onwards

Call description

The objective of this Call for Research is to explore the decision-making of institutional investors, in particular insurers and pension schemes, especially the biases that may affect their investment decisions. This could include, but not be limited to, emotional, psychological and political biases. It is expected that the project will first explore what "rational" or “optimal” behaviour could be expected from an institution in certain economic scenarios, based on its investment objectives and underlying values.

It will then explore whether there is solid evidence that “behavioural” factors, such as human psychology, company culture, corporate politics and conflicts of interest, cause them to deviate from optimal behaviour. The research should then make practical conclusions that could be used by actuaries working in investment and related areas. For example, one possible output of the research could be a suggested governance structure an organisation could put in place to manage these biases and conflicts. The IFoA is seeking research that has impact and practical application.

The IFoA has allocated funding of up to £200,000 to this proposal.  This grant may be split across more than one research team depending on the scope and content submitted by respondents.

Eligibility

Proposals would be welcomed from any research-led organisations within the university, not-for-profit, public or private sector.  Organisations may be based in the UK or elsewhere in the world.  We are particularly encouraging submissions from multi-disciplinary teams, which may span more than one organisation.

Call document

Download the Call for Research on Behavioural Aspects of Institutional Investment Decision-Making.  This document includes essential information for applicants, including how to apply.

Contact Details

For more information about the calls for research please contact the Research and Knowledge Team.

research@actuaries.org.uk

Filter or search events

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E.g., 01/10/2020
End date
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Events calendar

  • Autumn Lecture 2020: Professor Elroy Dimson

    Online webinar
    14 October 2020

    Spaces available

    Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.

  • GIRO Conference 2020 Webinar Series

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area

  • Life Conference 2020 Webinar Series

    Online
    16 November 2020 - 27 November 2020

    Spaces available

    This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.

  • Spaces available

    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Spaces available

    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

  • Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.