# Pension funds

`kaal:entity:pension-funds`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `pension-funds`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2016 to 2017.

**2016**

- [2739479-006](https://wulfkaal.github.io/claims/2739479-006) [mechanism/argued] -- 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.
  > 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.
  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

**2017**

- [2959730-015](https://wulfkaal.github.io/claims/2959730-015) [mechanism/asserted] -- 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.
  > 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.
  Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/pension-funds.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.