The future of pension management : integrating design, governance, and investing/ Ambachtsheer

xiii, p. 240.: ill.; 24 c

HOW SHOULD PENSION FUNDS MANAGE RISK?

Despite recent advances in risk management techniques, pension funds are still struggling with the concept of risk and with the practical challenges of managing and measuring it in useful ways. This article addresses this problem by showing that pension fund managers must manage two types of risk that affect a pension fund balance sheet's funded ratio. The most important of the two is asset policy risk, which arises from the choice of an asset mix policy that does not match the accrued pension liabilities. The other risk results from the decision to implement the chosen asset mix using active rather than passive management strategies. 1998 Morgan Stanley.

The future of pension management : integrating design, governance, and investing/ Ambachtsheer

xiii, p. 240.: ill.; 24 c