Defined benefit pension schemes in the United Kingdom asset and liability management 1st Edition by Philippe N Marcaillou ISBN 019873879X‎ 978-0198738794

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Product details:

ISBN 10: 019873879X‎ 

ISBN 13: 978-0198738794

Author: Philippe-N. Marcaillou

The goal of Asset-Liability Management (ALM) of a Defined Benefit Pension Scheme (DB) is to properly manage the risks related to variation in its building blocks on both sides of the balance sheet whilst maintaining the same expected return. This book provides a step-by-step methodology to maximize the complete restructuring and monitoring of the ALM of DB schemes. It is a product of the author’s 25 years of experience and technical knowledge in ALM of Pension Funds, portfolio management, investment banking and, specifically, more than 700 meetings with investment experts in the Pension Industry. It includes 400 figures and tables to help the reader make appropriate decisions and identify hidden tricks. It provides an in-depth understanding of how an Asset-Liability structure works, how to assess the efficiency of an investment strategy, and how to maximize the management of cash. Liabilities and Liability Driven Investment techniques (LDI) are explained through numerous examples.

Table of contents:

1. Introduction to Defined Benefit Pension Schemes

2. Understanding Asset and Liability Management (ALM)

3. Understanding Liabilities

4. Understanding Liability Driven Investment

5. Investment Policy: Understanding Asset Allocation Construction

6. ALM Risk and Performance Monitoring: Risk and Performance Report

7. Conclusion

8. Understanding Financial Instruments

9. Introduction to Statistics

10. Growth Asset Portfolio Construction Principles

11. Buyout, Buyin, and Longevity Swaps

12. Present Value Factors

13. Bibliography

14. Index

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Tags: Philippe N Marcaillou, Defined benefit pension, schemes in the United Kingdom, asset and liability management