"Applied to pensions, adding too much complexity by trying something untested and/or sold as 'the next big thing' can spell trouble.... [T]ransactions that are hard to explain make it difficult for an investor to 'appropriately identify the right benchmark to track performance.' When that occurs, tasks such as portfolio rebalancing, assessment as to whether fees paid are 'reasonable' and/or constructing an effective hedge strategy are difficult to achieve."

MORE >>