PENSION-FUND-MANAGEMENT5 MIN READ
Discuss The Liability Hedge Without A Turf War
Use ALM language to align investment and actuarial perspectives on hedge ratio.
Dr. Chen DC Plan actuary T Translate S Scenario P Policy ALM tension 20 sec Hedge ratio debate The actuary wants more rate hedging. The CIO worries about opportunity cost and credit spreads. If the debate stays in professional lanes, trustees cannot see the pension tradeoff. 13.8 yrs liability duration 42% current hedge ratio
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