The theory and practice of lifecycle investing

Catherine Reilly

Experienced DC practitioner

May 2023

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As Yogi Berra once said, “In theory, there is no difference between theory and practice. In practice, there is.”  

In this episode of Pioneering Pensions, we speak with Catherine Reilly, a specialist in defined contribution (DC) schemes, on the theory of lifecycle investing and the construction of lifecycle investing strategies for DC schemes. What are the shortcomings of the theoretical lifecycle investing? How do we construct robust lifecycle investment strategies in real life?   

This discussion focuses on the craftsmanship underpinning a good DC investment design. Catherine shares her practical experiences from constructing lifecycle investment portfolios and target date funds for several pension schemes. 

About Catherine Reilly

Catherine has over 20 years’ experience in the asset management and retirement industry in Europe and North America. Most recently she was the Director of Retirement Solutions at Smart in the US. Before that Catherine was Global Head of Research for the Defined Contribution team at State Street and designed custom retirement saving solutions for US and global clients. Prior to this, she was Chief Economist of Pohjola Asset Management in Finland and Management Consultant at McKinsey & Co., Inc in the Helsinki office. 

You can learn more about Catherine on her LinkedIn profile.

Watch on demand