Q https://www.6parknews.com/newspark/view.php?app=news&act=view&nid=572694 美国养老金已处于极度危险之中 养老金鉴证专家Edward Siedle在《UK Pension Fund Near-Collapse Is A Warning For America’s Pensions》（《英国养老基金濒临崩溃是对美国养老金的警告》）文章中写道，虽然与英国不同，但美国也有影响其养老金的“有毒物质”： 首先，为私营部门养老金计划中近4000万美国人的养老金福利提供保护的联邦政府机构PBGC本身已经资不抵债。 UQ
Q UK Pension Fund Near-Collapse Is A Warning For America’s Pensions Edward Siedle https://www.forbes.com/sites/edwardsiedle/2022/10/06/uk-pension-fund-near-collapse-is-a-warning-for-americas-pensions/ This past week, the United Kingdom saw the near-collapse of, according to some experts, nearly 90% of its pensions holding £1.5 trillion in assets. What happened is that a government-policy induced a pension crisis in the U.K. over what’s called liability-driven investing (LDI). LDI is a strategy that helps corporate pensions match their assets to their liabilities. UQ
Q UK Pension Fund Near-Collapse Is A Warning For America’s Pensions Edward Siedle https://www.forbes.com/sites/edwardsiedle/2022/10/06/uk-pension-fund-near-collapse-is-a-warning-for-americas-pensions/ This past week, the United Kingdom saw the near-collapse of, according to some experts, nearly 90% of its pensions holding £1.5 trillion in assets. What happened is that a government-policy induced a pension crisis in the U.K. over what’s called liability-driven investing (LDI). LDI is a strategy that helps corporate pensions match their assets to their liabilities. UQ EvenOdd 发表于 2022-10-11 22:02
Q Given the lack of public access to information which would expose gross malpractice generally practiced at our pensions; the limited rights of pensioners to address such wrongdoing under current law; the absence of effective regulation; and the willingness of our elected officials (0n both sides of the aisle) to do Wall Street’s bidding, expect to our nation’s pension crisis to continue to grow in the months and years to come. Edward Siedle UQ Q Edward Siedle is a former attorney with the United States Securities and Exchange Commission, record $78 million corporate whistleblower award winner, and widely-read Forbes writer. UQ
< February 14, 2022 > ! Q https://blogs.worldbank.org/voices/return-global-inflation The Return of Global Inflation Carmen Reinhart Clemens Graf von Luckner |February 14, 2022 UQ
Q LDI, like ALM, is a framework for considering the assets of a pension plan or insurance company in the context of liabilities. In contrast however, LDI is a subset of ALM and focuses on the risk to the surplus (or deficit) from market factors that impact the valuation of the liabilities. Liability Driven Investing: Hedging Inflation and Interest Rate ... https://www.firstsentierinvestors.com.au › australia UQ Q Liability-driven investment strategy - Wikipedia https://en.wikipedia.org › wiki › Liability-driven_invest... In essence, the liability-driven investment strategy (LDI) is an investment strategy of a company or individual based on the cash flows needed to fund future ...
Explainer: What is an LDI? Liability-Driven Investment strategy ... https://www.reuters.com › markets › europe › what-is-ldi-... 8 days ago — LDI is a popular product sold by asset managers like BlackRock, Legal & General and Schroders to pension funds, using derivatives to help them " ... UQ
Q ‘No such thing as hedging’: how managing risk creates more The UK pension fund blow-up is not the first time an attempt to manage risk has inadvertently created more risk. https://www.afr.com/markets/equity-markets/no-such-thing-as-hedging-how-managing-risk-creates-more-20221012-p5bpci In 2009, the near 30 per cent gain in the Australian dollar in effect created a $2 billion margin call, draining the insurer’s capital. “The hedges did not hedge risk, they simply transferred a balance sheet risk into a nastier cash-flow/liquidity risk,” the Bronte Capital manager wrote. UQ
Q https://committees.parliament.uk/publications/30136/documents/174584/default/ Liability-driven investment (LDI) LDI is an investment approach used by defined benefit (DB) pension funds to help ensure that the value of their assets (i.e. their investments) moves more in line with the value of their liabilities (i.e. the DB pensions they have promised to pay in the future). The approach is intended to achieve a smoother, more certain path to fully funded status. The closest match for the risks around the value of the liabilities is long-term gilts, particularly those linked to inflation. LDI strategies have been employed for many years, and there is currently over £1 trillion invested in them in the UK. Large pension funds run these strategies themselves or have their own segregated accounts with an asset manager. Small pension funds invest alongside other pension funds in ‘pooled’ LDI funds run by asset managers. Many pooled LDI funds have large numbers of DB pension fund investors. UQ
美国养老金已处于极度危险之中
养老金鉴证专家Edward Siedle在《UK Pension Fund Near-Collapse Is A Warning For America’s Pensions》（《英国养老基金濒临崩溃是对美国养老金的警告》）文章中写道，虽然与英国不同，但美国也有影响其养老金的“有毒物质”：
首先，为私营部门养老金计划中近4000万美国人的养老金福利提供保护的联邦政府机构PBGC本身已经资不抵债。 UQ
https://www.forbes.com/sites/edwardsiedle/2022/10/06/uk-pension-fund-near-collapse-is-a-warning-for-americas-pensions/
This past week, the United Kingdom saw the near-collapse of, according to some experts, nearly 90% of its pensions holding £1.5 trillion in assets.
What happened is that a government-policy induced a pension crisis in the U.K. over what’s called liability-driven investing (LDI). LDI is a strategy that helps corporate pensions match their assets to their liabilities. UQ
Q Given the lack of public access to information which would expose gross malpractice generally practiced at our pensions; the limited rights of pensioners to address such wrongdoing under current law; the absence of effective regulation; and the willingness of our elected officials (0n both sides of the aisle) to do Wall Street’s bidding, expect to our nation’s pension crisis to continue to grow in the months and years to come.
Edward Siedle UQ
Q
Edward Siedle is a former attorney with the United States Securities and Exchange Commission, record $78 million corporate whistleblower award winner, and widely-read Forbes writer. UQ
< February 14, 2022 > !
Q
UQ
Q LDI, like ALM, is a framework for considering the assets of a pension plan or insurance company in the context of liabilities. In contrast however, LDI is a subset of ALM and focuses on the risk to the surplus (or deficit) from market factors that impact the valuation of the liabilities.
Liability Driven Investing: Hedging Inflation and Interest Rate ... https://www.firstsentierinvestors.com.au › australia
UQ
Q
Liability-driven investment strategy - Wikipedia https://en.wikipedia.org › wiki › Liability-driven_invest...
In essence, the liability-driven investment strategy (LDI) is an investment strategy of a company or individual based on the cash flows needed to fund future ...
Explainer: What is an LDI? Liability-Driven Investment strategy ... https://www.reuters.com › markets › europe › what-is-ldi-...
8 days ago — LDI is a popular product sold by asset managers like BlackRock, Legal & General and Schroders to pension funds, using derivatives to help them " ...
UQ
https://www.afr.com/markets/equity-markets/no-such-thing-as-hedging-how-managing-risk-creates-more-20221012-p5bpci
In 2009, the near 30 per cent gain in the Australian dollar in effect created a $2 billion margin call, draining the insurer’s capital. “The hedges did not hedge risk, they simply transferred a balance sheet risk into a nastier cash-flow/liquidity risk,” the Bronte Capital manager wrote. UQ
https://committees.parliament.uk/publications/30136/documents/174584/default/
Liability-driven investment (LDI)
LDI is an investment approach used by defined benefit (DB) pension funds to help ensure that the value of their assets (i.e. their investments) moves more in line with the value of their liabilities (i.e. the DB pensions they have promised to pay in the future). The approach is intended to achieve a smoother, more certain path to fully funded status. The closest match for the risks around the value of the liabilities is long-term gilts, particularly those linked to inflation.
LDI strategies have been employed for many years, and there is currently over £1 trillion invested in them in the UK. Large pension funds run these strategies themselves or have their own segregated accounts with an asset manager. Small pension funds invest alongside other pension funds in ‘pooled’ LDI funds run by asset managers. Many pooled LDI funds have large numbers of DB pension fund investors. UQ