All LDI crisis articles
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AnalysisRising Gilt yields trigger déjà vu for UK DB industry
Three years after the LDI crisis, are UK DB pension funds are equipped to deal with rising Gilt yields?
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NewsEIOPA launches liquidity stress test of European pension funds
Fifth stress test exercise focuses on liquidity in light of recent market episodes like the LDI crisis in the UK in 2022
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NewsBoE launches repo facility to help tackle severe Gilt market dysfunction
The CNRF will lend to participating insurance companies, pension schemes and LDI funds to help maintain financial stability
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NewsUK investment industry rules out LDI Crisis 2.0 as bond yields soar
UK 10-year Gilt yield rose to 4.93% today following increased borrowing costs from government
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NewsFiduciary managers evolve capabilities to meet changing needs of UK DB schemes
While more large schemes are now adopting fiduciary management, the market remains dominated by smaller schemes, says IC Select survey
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NewsCBI, CSSF finalise yield buffer rules for sterling LDI funds
Measures complement guidance issued by UK regulators in wake of UK LDI crisis
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NewsDutch pension funds’ bond sales push down prices, study shows
The extra price drops are only visible for short-duration bonds that pension funds use most to meet margin calls for their interest rate hedges
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NewsDutch pension funds well prepared for liquidity crunch, say regulators
The switch to obligatory central clearing will increase liquidity needs while the transition to DC will likely have the reverse effect, according to regulators DNB and AFM
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NewsFiduciary managers’ mandates fall for the first time, says Isio
Isio’s Paula Champion expects fiduciary managers to look for other pools of assets as the ‘DB world is declining’
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NewsFiduciary management market faced 24% fall in asset value in 2022
Client growth also stalled in 2022 as scheme buyouts and transfers to PPF offset new funds moving to fiduciary management
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NewsValue of UK defined benefit schemes falls by £626bn in 2023
ONS data indicates that the total value of DB pension schemes decreased from over £2trn at the start of 2022 to less than £1.4trn by the end of March
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NewsInvestor group rejects basis for UK government delay of net zero policies
‘Staying the course not incompatible with addressing immediate cost of living concerns’
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Opinion PiecesViewpoint: How to prepare your scheme for the buyout backlog
Schemes must proactively prepare for major delays in risk transfers
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NewsWTW recommends policy changes to fuel UK economic growth
Plus: ABI calls on industry to put savers at the heart of plans to boost pension investment
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NewsUK pensions regulator in hot seat over lax governance of LDI
The Pensions Regulator was not able to monitor whether its LDI guidance on managing risk was being followed, Work and Pensions Select Committee finds
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NewsUK’s pensions regulator to gather feedback on LDI guidance
The Regulator placed ‘huge emphasis’ on operational processes
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NewsBank of England calls on pensions industry for financial stability responsibility
‘Central banks cannot be a substitute for the primary obligation of LDI funds to manage their own risk,’ says BoE
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Opinion PiecesViewpoint: Fee transparency – it’s good for managers too, but they probably won’t believe it
Asset managers are still not properly able to represent the true and comparative value-for-money they provide
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Opinion PiecesLDI lessons: be wary of future traps
After the global financial crisis of 2008-09, world leaders meeting at the Pittsburgh G20 summit mandated central clearing for derivatives. This was to allow for greater supervisory oversight and to mitigate against the unintended build-up of risks of the kind that almost toppled the financial system in the guise of over-the-counter credit default swaps.
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Country ReportUK: A review of the LDI debacle
The UK Parliamentary inquiry into the LDI crisis has shed light on its causes, but the debate over the lessons learned for the UK DB industry is far from over
