Pension funds don���t face the many constraints that make buy and maintain strategies so well-suited to insurers, and can make use of these freedoms when designing portfolios to meet the liability-aware investment needs of pension funds.
Many UK defined benefit (DB) pension funds are well along on their de-risking journey. What lies ahead now is relatively unexplored territory. Here we set out things to consider in building a runoff investment strategy.
We examine how negative cash flow impacts funding, risk and return for pension plans and provide insight on how plans are likely to adapt their investment strategies in response, taking into account current capital market conditions and our 2018
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While no deal is not the most likely scenario in our view, the risks are rising. The UK outlook is binary. A Brexit deal could see sterling bounce to 1.40 against the dollar, but no deal on 31 October could see a further slump to 1.10.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
Allocating to multi-asset credit managers, who seek out alpha opportunities without constraint, can improve risk-adjusted returns for the average DB plan.
What investors should consider
Learn more about J.P. Morgan���s views on fixed income, the economy and markets.