Comprehensive Asset Liability Management - CALM
This edition explores the main elements of the CALM approach in the context of the special challenges faced by healthcare systems.
Investment Policy
LDI – A Brave New World of Fiduciary Issues
Liability-driven investing is a radical departure from conventional asset-maximizing strategies.
Birds of Many Feathers
For many years, institutional investors—i.e., pension plans, endowments, and foundations—have followed investment policies based on a conventional 60/40 blend of equity and fixed income securities.
Frozen Alive – Managing a Frozen Pension Plan
Freezing a pension plan forces fiduciaries to change their habits, posing new management challenges in the areas of investment policy, oversight practices, and staffing.
Implementing LDI – Not a Day at the Beach
The theoretical promise of LDI must be matched by excellence in implementation
Comprehensive Asset Liability Management – CALM
In a complex healthcare institution with multiple investment pools, balancing investment and operational risks in a coordinated way is paramount.
Implementing Portable Alpha Strategies
Fiduciaries have several means of implementing portable alpha strategies; a framework for thinking about each approach’s pros and cons can be useful.