The Balancing Of Assets
Source : The OPDU ReportPublish Date : 01/06/2006
Author : Oliver Boyle
The unintended consequences of introducing a marked to market accounting standard for pensioners has been that market volatility has sometimes blurred long term investment decisions.
The sharp fall in equity prices in 2000 and the ensuing bear market caused real concern for all investors - and particularly for pension funds. A greater focus on liability driven investment, as opposed to investment return, slowly appeared. The balancing of pension assets and liabilities has, in effect, been transformed into a 'business' of managing accounting surpluses and shortfalls...
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