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New directions in liability-driven investing

As market conditions, regulations, and plan objectives change, best practices in liability-driven investing continue to evolve. In the “editor’s picks” below, we discuss glidepath innovations, enhancements in return-seeking portfolios, and the impact of liquidity constraints.

 
May 2017
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Portfolio policy

Weatherproofing a plan's return-seeking assets

Author: Amy Trainor, FSA, EA

For corporate DB plans, return-seeking assets are often synonymous with traditional equities. That’s fine if market conditions are just right, but it leaves plans vulnerable in many environments. We...

File under: New directions in liability-driven investing

 
W_lock

Rising rates are no panacea for corporate pensions: A case for increasing the...

Author: Amy Trainor, FSA, EA

Derisking by US corporate pension plans (reallocating from equities to long-duration bonds to better match liabilities) has been on hold in recent years, but could resume if funded ratios improve thanks to...

File under: New directions in liability-driven investing

 
Jan 2017
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Portfolio policy

Tax reform and long bond supply: An "early mover" advantage for US corporate...

Authors: Bill Cole, CFA, CAIA, ...

Corporate tax cuts are a key component of President Trump's tax plan. While there are many details still to be ironed out, it seems likely that lower corporate tax rates are on the horizon. In this paper, we...

File under: New directions in liability-driven investing

 
Jan 2017
|
Portfolio policy

Four pension issues to watch in 2017: An update for US corporate plans

Author: Amy Trainor, FSA, EA

A range of market, legislative, and regulatory developments could shape plan sponsor decisions in the coming year. This note highlights some we’ll be keeping an eye on. Key points US corporate...

File under: New directions in liability-driven investing