Liability-driven investing

We partner with plan sponsors at all stages of the LDI process, tapping the full breadth of Wellington’s research, multi-asset, actuarial and credit analysis capabilities.

Greater than the sum of its parts: What we believe is different about our LDI team

Our dedicated, cross-functional team brings together everything Wellington has to offer in an effort to add value at each decision point in your plan’s life cycle:

  • LDI research that’s innovative and implementable
  • Multi-asset skill for a holistic perspective across your plan
  • Actuarial experts who actually invest
  • Rigorous credit analysis that benefits from equity investor perspectives and company access

Our firm’s broad investment platform and collaborative culture allow us to draw on the experience and skill of more than 700 investment professionals and a full spectrum of investments for liability-matching and return-seeking allocations. Our investors are backed by best-in-class firm resources, including specialised trading desks and risk-management teams and technology.

How do we work with you?

1. Custom research and consultation

Liability cash-flow analysis

Asset/liability studies

Glidepath construction

2. Investments for a broad range of objectives

Liability matching

Long-duration

  • Long credit/corporate
  • Long government/corporate
  • STRIPS

Absolute return plus long bonds

Return-seeking "bridge" strategies

Listed infrastructure

Low-volatility equity

Opportunistic fixed income

Multisector credit

Return seeking

Active equity

  • US
  • Global
  • Emerging market

Absolute return strategies

3. LDI portfolio construction

Custom LDI benchmarks

Completion management

Cash bond portfolios with derivative overlays

Cash-flow driven investment (CDI)

Dynamic pension management

Meet our LDI team co-chairs and long bond managers

Amy Trainor
Amy Trainor

Amy Trainor, FSA

LDI Team Co-Chair, Multi-Asset Strategist & Portfolio Manager

Amy helps corporate pension sponsors set strategic asset allocation policy. She also manages customised multi-asset portfolios, including glidepath approaches. She partners with the Fixed Income team to implement LDI solutions.

  • 25 years of professional experience, including roles at Hewitt Associates (Aon Hewitt) and Towers Perrin (Willis Towers Watson)
  • Wellesley College, BA in economics and mathematics
  • Fellow of the Society of Actuaries (FSA)
  • Chair of Wellington’s Retirement Benefit Plans Oversight Committee and a member of the Corporate Governance Committee
Bill Cole
Bill Cole

Bill Cole, CFA, CAIA

LDI Team Co-Chair, Fixed Income Investment Director

Bill works closely with LDI portfolio managers, fixed income quantitative strategists and global multi-asset strategy teams to design LDI solutions for corporate plan sponsors. Additionally, he provides portfolio and risk oversight to help ensure the integrity of our investment-grade credit and long-duration approaches.

  • 13 years of professional experience
  • Drexel University, MBA; College of the Holy Cross, BA in economics and Asian studies
  • Chartered Financial Analyst and Chartered Alternative Investment Analyst
Scott St. John
Scott St. John

Scott St. John, CFA

Portfolio Manager, Long-Duration Fixed Income

Scott manages dedicated US corporate bond portfolios and is a member of our LDI team. He chairs the US Corporate Bond Strategy Group, which helps shape portfolio positioning for corporate bond holdings.

  • 25 years of professional experience
  • University of Rochester, MBA
  • Chartered Financial Analyst
Joe Marvan
Joe Marvan

Joe Marvan, CFA

Portfolio Manager, Long-Duration Fixed Income

Joe is a fixed income portfolio manager and serves as chair of the US Broad Market Team. As chair, he is responsible for setting aggregate risk levels and investment strategy in long-duration bond portfolios.

  • 30 years of professional experience
  • Babson College, MBA
  • Chartered Financial Analyst

contact us

Email Amy Morse, Director of Pension Strategies, at [email protected]

As of 31 December 2020. This is for illustrative purposes only and is not an investment recommendation. This is not an all-inclusive list of approaches that may fit the stated theme. Investing involves risk, and an investment in an approach could lose money.

Explore insights

Using climate science to uncover investment opportunities
Investors are increasingly aware of the risks posed by climate change, but perhaps less so of the unexpected opportunities that climate science can help uncover.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Using climate science to uncover investment opportunities
,
publish
Monthly Market Snapshot: June 2021
A monthly update on equity, fixed income, currency and commodity markets.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Monthly Market Snapshot: June 2021
,
publish
Financial Market Review: Second quarter 2021
A quarterly review of results in the global equity, fixed income, currency and commodity markets.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Financial Market Review: Second quarter 2021
,
publish
Mid-2021 Investment Outlook
As you look ahead to the second half of 2021, thought leaders from across our investment platform share their views on pressing questions.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Mid-2021 Investment Outlook
,
publish
Investing implications of a three-speed economy
Multi-Asset Strategist and Portfolio Manager Nick Samouilhan and Investment Directors Andrew Sharp-Paul and Matthew Bullock highlight how key regional differences globally have led to three distinct ”blocks” of the world economy.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Investing implications of a three-speed economy
,
publish
<span>Insurance Multi-Asset Outlook — </span>The rising tide of inflation: risks and opportunities for insurers
COVID vaccination progress and ample policy support may warrant a more pro-risk investment stance in the future, but persistent inflation concerns continue to loom. Multi-Asset Insurance Strategist Tim Antonelli and Investment Strategy Analyst Daniel Cook share insights to help insurers navigate these competing forces.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Insurance Multi-Asset Outlook — The rising tide of inflation: risks and opportunities for insurers
,
publish
Tim Antonelli
 CFA, FRM, SCR
Split decision: should investors  separate China from EM equities?
Many investors are contemplating whether to separate China from the rest of their emerging market equity allocation. Members of our Investment Strategy Group argue that the key decision point is not China’s dominance of the emerging market index, but the extent to which a standalone China allocation can be viewed as similar to an EM ex-China allocation. In this paper, they evaluate the similarity of the two allocations using a variety of metrics, from correlations to factors to sector composition.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Split decision: should investors separate China from EM equities?
,
publish
Building climate resilience within a strategic asset allocation framework
Driving volatility and dispersion, climate change could have lasting effects on the risk and return profile of a strategic asset allocation plan. We suggest allocators factor climate change into their structural planning today, and we propose a climate-aware allocation framework to help them do so.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
July 2021
Building climate resilience within a strategic asset allocation framework
,
publish
Erika Murphy
 CFA, CAIA