Tag Archives: LDI

Is the PPF overfunded or under-invested?

Posted on December 2, 2022 by henry tapper

The PPF has published its Purple book – rolled out to an audience of 250 anonymous aficionados  at a Pension Expert event this week. It revealed DB schemes in rude health with reserves well up and a funding ration at … Continue reading →

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Is LDI fundamentally unsuitable to small DB schemes?

Posted on November 30, 2022 by henry tapper

  Evan Guppy runs a multi-billion pound leveraged LDI program for the Pension Protection Fund. The collateral calls it met over the September/October crisis involved posting £1.5bn in cash and gilts For the first time before during or after the … Continue reading →

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Another way to LDI – how the PPF’s approach has fared in 2022.

Posted on November 30, 2022 by henry tapper

While the pensions industry continues to live under the pall of the LDI blow-up, the PPF have confidently explained how they have managed the problems that arose from the spike in gilt yields in September. Speaking to me at a … Continue reading →

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Find out how the PPF used LDI as part of its pension strategy – TODAY 10.30-FREE

Posted on November 29, 2022 by henry tapper

I think this will be a really excellent discussion. Register or log in to http://www.pensionplaypen.com to attend. (events)

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Capturing the prize – or why you shouldn’t bet money you don’t have!

Posted on November 26, 2022 by henry tapper

    Was the  football side that beat Iran 6-2 an average team that played well or was the that drew with the USA a good team that played poorly? Our view of the England’s performance in the world cup … Continue reading →

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Find out how the PPF used LDI as part of its pension strategy

Posted on November 25, 2022 by henry tapper

I think this will be a really excellent discussion. Register or log in to http://www.pensionplaypen.com to attend. (events)

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LDI – the full unexpergated story

Posted on November 25, 2022 by henry tapper

This is a text of an after-dinner speech I gave to the Pensions Network on Thursday November 24th. Our story begins in 2004 when the UK adopted an accounting standard that discounted pension scheme liabilities to the AA Corporate bond … Continue reading →

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Small DB schemes – LDI’s unconsidered victims

Posted on November 24, 2022 by henry tapper

  The PLSA has around 1400 members, give or take the odd  DC master trust, the vast majority run DB pension schemes. You can find who they are if you purchase the PLSA database The industry bible “Pension Fund and … Continue reading →

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Why employers should be pig-sick about LDI (as should many DC savers).

Posted on November 23, 2022 by henry tapper

  This morning I will be giving evidence to the Work and Pensions Committee as part of its inquiry into Defined Benefit Pension Schemes with Liability Driven Investments. I will be giving evidence with John Ralfe, Con Keating and Iain … Continue reading →

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L&G’s Wilson sees many black swans on the river.

Posted on November 23, 2022 by henry tapper

  It’s tough at the top and L&G’s Group CEO Nigel Wilson has been at the top longer than most. Yesterday he went to war with the combative House of Lords Industry and Regulators Committee. He had no choice. The … Continue reading →

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