{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/pension-funds",
 "identifier": "kaal:entity:pension-funds",
 "name": "Pension funds",
 "termCode": "pension-funds",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/pension-funds.md",
 "sha256": "b7a4dbc8936b4dd632ad6caa48080e9ff29ad658548204a7a105110765239fa6",
 "additionalProperty": [
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   "name": "status",
   "value": "derived"
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   "value": 2
  },
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   "value": 2
  },
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   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2016",
    "2017"
   ]
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2739479-006",
   "identifier": "kaal:claim:2739479-006",
   "text": "Private fund underperformance may be a product of institutionalization: pension funds have increased their private fund holdings and institutions now make up over two thirds of the private fund investor base, up from 20 percent a decade earlier.",
   "abstract": "The underperformance may result from the institutionalization of private funds, because pension funds increase private fund holdings, and, furthermore, institutions represent over two-thirds of the private fund base—up from 20% a decade ago.",
   "citation": "Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479",
   "datePublished": "2016",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "hedge fund investor base as of 2015",
    "explanation offered as possible, not established"
   ],
   "source_pdf_sha256": "b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2959730-015",
   "identifier": "kaal:claim:2959730-015",
   "text": "Shifting inflation indexed hurdle rates from quarterly to monthly calculation lowers manager compensation: for managers with pension plan limited partners this often means receiving 5% plus inflation instead of an 8% hurdle rate.",
   "abstract": "Inflation-indexed hurdle rates are now calculated on a monthly not a quarterly basis. For managers with pension plan limited partners that often means instead of an 8% hurdle rate the manager gets 5% plus inflation.",
   "citation": "Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "managers with pension plan limited partners",
    "inflation indexed hurdle rates"
   ],
   "source_pdf_sha256": "ebd86972d8817b0c1c80326ae5564476983cedba3f258ff3b2610f156b93fb50",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'pension-funds'. Derived node: a roster, not an adjudicated definition."
}