Liability Driven Investment

Legal & General Investment Management has launched a pooled fund platform that offers pension schemes a flexible version of liability-driven investment.

UK - The £240bn ($390bn) liability-driven investment market is developing into an "oligopoly" with just three providers managing more than 80% of assets, research finds.

The £650m Lloyd's Register Superannuation Fund Association is to undertake a wholesale review of its investment strategy and mandates.

Schroders has launched five synthetic gilt funds to hedge against interest and inflation risk as it seeks to push further into the growing liability-driven investment market.

New York Life Investments has launched the Guaranteed Interest Pension Account (GPA) to help corporate plans better manage their near-term liabilities.

Interest rate hedges by pension funds fell by 24% over the first quarter of the year, hit by a difficult swap market and stale funding levels, F&C reports.

UK - The £8.5bn ($13.6bn) Aviva Staff Pension Scheme is looking to increase its allocations to real estate related assets to 15% over the next two years as it looks for long-term, liability matching assets.

CANADA - Staff at the Healthcare of Ontario Pension Plan (HOOPP) could soon be compensated for how well they match liabilities.

US - The number of new mandates placed by US institutional investors increased 16% in 2010 with a sharp increase seen in specialist mandates like real assets, commodities and other alternatives.

FRANCE - Dutch regulations are "killing" pension funds by using a discount rate that forces them to de-risk, said Anton van Nunen, director of Van Nunen & Partners.