Tag Archives: Keating

“I’m all right, Jack” – LDI apologists get short shrift from Keating and Clacher

This blog is written in response to an FT article entitled “A different perspective on LDI”. We quote it in its entirety and respond after each quotation. LDI is very far from the light entertainment of an Ealing comedy. “It … Continue reading

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Those whom the gods would destroy, they first make mad

    There is an aspect of the letter from TPR to Work and Pensions Select Committee which we believe warrants unpacking: “Schemes that used LDI strategies to lessen the impact of falling or volatile interest rates over the past … Continue reading

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The reframing of the LDI narrative will hide a tragedy for both DB and DC schemes

The past two weeks have seen significant amounts of time, energy, intellect, and ink spent analyzing what went wrong with liability-driven investment (LDI), and the ex-post rationalization of what was not a black swan event. Higher inflation and the concomitant … Continue reading

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Keating and Clacher’s last post; the DWP Funding Regs. consultation ends today

  The DWP’s Funding Regulations consultation closes today (17/10/22). This is the 9th and closing article from Keating and Clacher dealing with the consultation.   This is the ninth and last in our series of blogs addressing the questions posed … Continue reading

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“More that unites than divides” – Ralfe and Keating as one on LDI.

    It’s helpful to think about local issues, like the current LDI crisis in terms of investment philosophy. In this article, I argue that two protagonists, who see pension fund investment differently are drawn together by an aversion to … Continue reading

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LDI – “Blood on the Tracks”

Well, I wanna be your lover, babyI don’t wanna be your bossDon’t say I never warned youWhen your train gets lost Bob Dylan “It takes a lot to laugh, it takes a train to cry” This article is about the … Continue reading

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‘Comply or explain’ becomes ‘comply or else’ – Keating and Clacher on DWP funding regs. (4)

  This is the fourth in our series of blogs addressing the questions posed in the DWP’s Funding Regulations consultation. Links to previous blogs may be found at the end of this blog. We follow the same conventions as in … Continue reading

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Is CDC more threatened by regulation than markets?

CDC and Stochastic Investment Returns Con Keating and Iain Clacher In an earlier blog we examined the decumulation performance of CDC schemes under deterministic investment returns and inflation This blog considers the excessive volatility and the wildness of outcome introduced … Continue reading

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Paritarian Pensions – Straw Men for Collective Defined Contribution Schemes

This note has been written to accompany a Pensions Management Institute virtual panel taking place on April 22nd on the topic of CDC pensions. It takes, as a straw man for some of the issues, a recent blog by Stefan … Continue reading

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A counterblast to apostasy – Keating and Clacher hold the faith!

  A blog from the pens of  Con Keating and Iain Clacher Henry Tapper has been our eyes and ears on social media and has passed us a variety of questions that have been sent to him on twitter. He’s … Continue reading

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