WPF Risk Summit

How to solve Chicago’s pension pain

Moody’s recent downgrade of the City of Chicago was because of its pension liabilities, according to the city’s treasurer, Stephanie Neely, who says the current actions to fix the funding deficit problems are just “re-arranging the furniture”. “The benefits and contributions are the problem: we cannot invest our way out of this,” she says, adding... Read more »
INVESTOR PROFILE

Deutsche Bank’s carefully engineered fund

You would expect one of the biggest names in global finance to have a sophisticated pension fund, and on that measure the €7-billion ($9.2-billion) contractual trust arrangement (CTA) for Deutsche Bank’s German employees does not disappoint in the slightest. It has carefully engineered a diversified bond-led liability-driven investment (LDI) strategy that is supported by a... Read more »
IN CONVERSATION

APG’s Wuijster refines asset management

APG, which manages €314 billion ($480 billion), has always been innovative. Ronald Wuijster earned a reputation as somewhat of a pension rockstar when he introduced the idea of intellectual property rights as an asset class and bought the music rights to a number of high profile musicians from the contemporary to classical. That investment, which... Read more »
INVESTOR PROFILE

The Pension Protection Fund: lifeboat in a storm

Crisis in the global economy may be knocking the value of most UK pension funds off course, but it is actually helping swell assets at the £12-billion ($19-billion) Pension Protection Fund (PPF). Established in 2005 along similar lines to America’s giant Pension Benefit Guaranty Corporation, the PPF absorbs the assets of defined-benefit private sector schemes... Read more »