Con Keating
NewsLongevity: Don't believe the hype
Con Keating and Dennis Leech explain how the IMF's latest warnings on longevity are misleading.
NewsThe impact of Solvency II on pension costs and efficiency
Authorities' complacency on the decline of DB takes some explaining, argues Con Keating.
NewsA comedy of errors: The European Commission's stance on Solvency II
Con Keating on the folly of applying Solvency II rules to defined benefit pension funds.
NewsDon't stop believing: The benefits of the unfunded DB model
Con Keating, head of research at Brighton Rock, makes the case for the insured, unfunded DB scheme.
NewsPensions discounts: Rounding up the usual suspects
Brighton Rock's Con Keating defends the UK government's take on the correct discount rate for public sector pension schemes.
NewsDB pensions: A litany of errors and misunderstandings
Brighton Rock's Con Keating responds to a 'litany' of misunderstandings and errors on DB penions.
NewsPublic sector pensions: The politics of envy
People have misunderstood the Hutton Report, says Brighton Rock's Con Keating.
- Special Report
Liabilities & Matching Strategies: Modelling realities
Con Keating identifies some key problems in asset-liability modelling and liability-driven investment based on mixed-attribute accounting
- Opinion Pieces
Con Keating, head of research, BrightonRock Group
The September edition of IPE contained articles on valuation, securities lending, collateral management and lessons from the financial crisis. Observations such as: ‘any exposure needs to be collateralised’ and ‘an aggressive move to daily margining’ set the tone but also brought to mind the Vietnam War era expression ‘collateral damage’.
FeaturesRe-examining pensions guaranty insurance
The UK’s Pension Protection Fund is a good illustration of poor institutional design. Full cover insurance of pensions is both feasible and theoretically sound, argues Con Keating
- Features
The eternal triangle
The pension problem is simple: a question of assets, liabilities and the difference between them - an asset or liability. Risk is mostly simply and generally defined as the rate of change of an object. The rate of change of an asset’s value, its risk, we know by the term ...
- Features
The eternal triangle
The pension problem is simple: a question of assets, liabilities and the difference between them - an asset or liability. Risk is mostly simply and generally defined as the rate of change of an object. The rate of change of an asset’s value, its risk, we know by the term ...
- Features
The search for the holy grail
The Capital Asset Pricing Model of financial theory is the root of the Alpha, Beta distinction. This model is shown below: where R is the return from respectively the portfolio and market, alpha and beta the objects of interest and epsilon a residual error term. This is a simple linear ...
- Features
No free lunch from credit spread
In recent months it has become popular to equate monetary union and the introduction of a credit term in government bond yields with a bottom-up” approach to fixed income fund management. This is, at best, rather naive.It is true that the independence of the European Central Bank and the mutual ...
