A Primer on Liability Driven Investing

The Economics of U.S. Tort Liability: A Primer

Prevention, Limited Liability and Market Structure

Under a market setting, we analyse the impact of legal liability on prevention, taking into account the possible limited wealth of ...rms. We show that under strict liability, ...rms may choose ex ante not to be able to fully indemnify victims ex post: whatever the market structure, they may use limited liability strategically by investing in prevention in excess of what is socially optimal. Th...

Pension Solutions’ Insights

330657 LGIMA_LDI implementation wo constraints of market bencharks reprint.indd 1 4/17/13 6:25 AM 330657 LGIMA_LDI implementation wo constraints of market bencharks reprint.indd 2 Executive Summary Our LDI clients continue to move down their de-risking glidepaths. As they move down the de-risking path, they are increasingly focused on controlling risk and understanding performance versus specif...

Linking Pension Liabilities to Assets

2 Pension assets exist to defease the benefit promises made by plan sponsors to participants and beneficiaries—in other words, the pension liability. It follows that pension investment policies should be set in a way that explicitly integrates the exposures of the pension liability. The traditional approach to pension investing has excluded the risks of the liability, which has resulted in port...

Emerging Markets – A New Paradigm for ESG Investing

Emerging markets and ESG (Environmental, Social, and Governance) investing have been two of the fastest growing investment specialty areas over the past decade but for very different reasons. Emerging market growth rates were driven by a rising middle class, need for more advanced infrastructure and regulation, and an increased international flow of goods and capital. ESG investing, on the othe...