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Special Report

ESG: The metrics jigsaw


Man’s Fink sees pension longevity derivatives

GLOBAL - Stanley Fink, the chief executive of hedge fund company Man Group, says he expects pension longevity derivatives contracts to develop in the coming years.

"My view is that one of the biggest risks that pension funds can't hedge today is how long their people are going to live," he said. "That's bound to form a new derivatives contract over the next 10 or 20 years."

"There are people trading new derivatives like weather derivatives and pollution derivatives," Fink said in an interview with BBC Radio's ‘In Business' programme last night.

Fink's comments come despite the failure of the BNP Paribas longevity bond for UK pension schemes last year.

Fink, who has said he would limit hedge funds for Man's own pension fund, explained that Man chooses 400 hedge fund managers to hedge against certain investment styles "coming in and out of fashion".

Bernard Oppetit, the CEO of Centaurus Capital, told the programme of the fund's opposition to the management at Stork and Ahold.

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