TY - JOUR T1 - Do Health Care Investments Hedge Health Care Liabilities? JF - The Journal of Investing SP - 69 LP - 74 DO - 10.3905/JOI.2009.18.1.069 VL - 18 IS - 1 AU - William W Jennings AU - Steve P Fraser AU - Brian C Payne Y1 - 2009/02/28 UR - https://pm-research.com/content/18/1/69.abstract N2 - Investment pools are frequently designed to pay health care expenses. We examine whether health care equity investments hedge the health care liabilities of these investment pools. In contrast with conventional wisdom, we find them to be uncorrelated with medical inflation and, thus, poor hedges.TOPICS: Pension funds, statistical methods, portfolio construction ER -