Arun Muralidhar is Managing Director of FX Concepts, Inc. a private financial analysis firm. Prior to holding that position Dr Muralidhar served as Head of Research in the Investment Department and a member of the Investment Committee of the World Bank in Washington, DC and subsequently served as Managing Director and Head of Currency Research at J. P. Morgan Investment Management. He is the author of Innovations in Pension Fund Management (2003) and articles in leading journals in finance, including the Journal of Portfolio Management, the Financial Analysts Journal, the Journal of Risk, Derivatives Quarterly, and the Journal of Asset Management. He received his PhD in 1992 from MIT where he studied under Professor Modigliani.