Page 73 (Correction):
Last sentence should read:
"Using 2020 data, a Willis Towers Watson study found that the pension assets in the 300 largest pension plans totaled over $21.7 trillion." (Posted 1/8/26)
Page 147 (Correction):
Last paragraph:
"One solution that has been considered is unsmoothing." (Posted 1/7/26)
Page 185 (Correction):
In Figure 1, ****Risk Parity Weight for stocks should be 26.45%. (Posted 1/7/26)
Page 201 (Correction):
Second paragraph under Overcommitment Ratio should state:
"The overcommitment ratio helps LPs to balance the risk of inefficient allocation and the risk of defaulting on capital calls."
(Posted 5/20/26)
Page 236 (Correction):
The components of geometric returns should state:
(Posted 1/20/26)
Page 241 (Correction):
The second paragraph of LO 3.5.4 should state: