Liability-Driven Investing – Page 5
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NewsLDI market breaches £1trn as smaller schemes join hedging trend
XPS Investment attributes most of 2018 growth to new mandates, mainly from smaller schemes
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Generali Investments splits to create LDI specialist arm
LDI arm separates from ‘growth engine’, which will consist of ‘unconstrained and distinctive’ strategies
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Japanese pension funds rethink asset allocation strategies – survey
Funds increasingly adopting strategies modelled on variety of role-, risk- or factor-based approaches
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Dutch regulators follow ESMA's advice on central clearing
DNB and AFM confirm they will not enforce rules during legal gap in EMIR exemption for pension funds
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UK regulator heeds ESMA call for discretion over clearing obligation
National supervisors told to “not prioritise” enforcing EMIR rules on pension funds during expected temporary gap in exemption
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NewsPensionsEurope calls for clearing assurance following EMIR delay
Current exemption from central clearing to run out before new rules enter into force
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Country ReportDutch regulator replaces LDI manager on €1.9bn pension scheme
BlackRock replaced by Cardano but will stay on as fiduciary manager
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Country ReportUK roundup: Agreement struck on USS valuations; UK approaching peak LDI
Plus: UK approaching ‘peak LDI’; Xafinity Punter Southall calls for legal separation of consultants and fiduciary managers
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NewsLiability-matching portfolios ‘should also generate returns’
Panellists at Pensioen Pro conference call for Dutch government to issue inflation-linked bonds
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Joseph Mariathasan: Discount rates and error margins
If too much credence is given to measurements without understanding their limitations, it can create chaos
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Credit benchmarks too sensitive to interest rates, investors warn
Credit risk and duration management among the top priorities for Austrian pension funds
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Joseph Mariathasan: Are LDI valuations right for an entity like USS?
Matching pension liabilities is seen as a risk management rather than investment issue
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NewsFRR awards €5bn in liability-matching mandates
AXA IM and Amundi appointed to run assets to help meet payments to social security system
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NewsAsset management roundup: Link fee discounts to long-term mandates
Plus: Deutsche AM’s rebrand; UK LDI activity increased by 27% in Q3
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NewsMandate roundup: German fund in €1bn LDI search on IPE Quest
Plus: ERAFP tenders out €2bn currency hedging mandate
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Asset management roundup: BMO restructures LDI pooled funds
Also: BNY Mellon to roll out corporate bond trading initiative
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Netherlands roundup: Sector schemes finalise admin provision
Houtverwerkende Industry has contract to stay to at least 2020, despite insurer being taken-over by NN Group
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‘Meaningful’ risk of no deal outcome to Brexit negotiations: survey
But pension schemes should have time to prepare response given ‘signposting’ of progress
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UK roundup: Teachers' pension scheme liabilities grow by £76bn
Also: LGPS Central names non-execs; Serco’s pension fund grants BlackRock £1.5bn LDI mandate
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UK pensions lifeboat fund to expand portfolio insourcing
Pension Protection Fund expects assets under management to grow to £32bn by 2020
