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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.

 
Jan 2017
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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

 
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Setting ROAs: A 2016 year-end guide for US corporate and public plans

Authors: Amy Trainor, FSA, EA, ...

To help plan sponsors make more informed decisions, this annual update details key ROA assumptions and provides our latest trend analysis and 15-year capital market expectations.

File under: New directions in liability-driven investing

 
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Customizing the pension liability hedge: A balancing act

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

When designing a liability-hedging strategy, plan sponsors must consider whether it is enough to invest in traditional long-bond benchmarks. In this paper, we share our latest research on this topic and argue...

File under: New directions in liability-driven investing

 
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Constructing a corporate bond liability-hedging portfolio: A global perspective

Authors: Amy Trainor, FSA, EA, ...

Among the risks that many pensions must consider is spread risk in the liability-hedging portfolio. Intuitively, one might assume the solution is a domestic corporate bond allocation with a duration that is...

File under: New directions in liability-driven investing