US - US pension funds' assets have underperformed their liabilities by as much as 6.3% so far this year, with a cumulative underperformance of nearly 50% since 2000, according to asset liability modelling performed by Ryan ALM, a US consultancy firm.
In calculating the asset/liability spread, Ryan ALM used the market rate of Treasury STRIPS with a proposed return of 9.29%, the Pension Bill corporate bond rate with an assumed return of 10.32%, a...
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