All topics

Best Pensions Paper 2018 (UK and Europe)

  • Posted by: ,  Chief Executive
  • 04 December 2018
  • Views210

Hymans Robertson / Nomura collaboration wins best paper

The winning paper argues that the LDI-era in UK pensions risk management may be coming to an end, and examines the impact this may have on UK bond yields.

The authors draw upon academic data and survey evidence to understand the drivers of bond yields. They describe UK gilt yields as having both a "global real yield" component and a UK-specific "idiosyncratic" component. The authors show that LDI-strategies and the associated demand for long-dated gilts has suppressed UK bond yields over an extended period. However, they warn that this era may be coming to an end; investors should be wary of holding UK fixed income securities as the supply-demand imbalance unwinds.

Pensions Paper 2018


WINNER: HYMANS ROBERTSON / NOMURA


The Age of Peak LDI (Hymans Robertson/Nomura)

Over the last fifteen years, liability-driven investment (LDI) strategies have been a major feature of the UK defined benefit pension scheme landscape. However, in this fascinating 28-page paper, the authors discuss the history of pensions risk management in the UK and argue that the era of LDI implementation may be approaching a natural conclusion, being likely in the author's view to last no longer than another 2-3 years.


HIGHLY COMMENDED


UK Pensions De-Risking Report 2018 (Willis Towers Watson)

This 21-page report by Willis Towers Watson examines the key themes in the longevity hedging and bulk annuity market over the coming 12 months.

The DC Future Book (PPI/Columbia Threadneedle, 2018)

This paper is only accessible in the United Kingdom

Produced by the Pensions Policy Institute in conjunction with Columbia Threadneedle, the DC Future Book is a blockbuster 84-page report which surveys all aspects of the UK DC landscape, both in terms of how it looks at present and how it may evolve in the future.

2018 UK Pension Strategy Survey (Willis Towers Watson)

This paper is only accessible in the United Kingdom

Willis Towers Watson presents the findings of a survey of nearly 200 pensions funds, in order to better understand their benefit strategy. In particular, the report focuses on the future direction of DC pensions and the plan design challenges for DB schemes.

Annual Risk Transfer report (Hymans Robertson, 2018)

This paper is only accessible in the United Kingdom

With UK bulk annuity transaction volumes in 2018 having smashed previous records, Hymans Robertson presents an in-depth report on the risk transfer market. The report includes an overview of bulk annuity insurers, a review of trustee insights, a focus on the changing regulatory landscape, an update on longevity trends and an analysis of UK DB scheme demand.

Global Pension Asset Study (Willis Towers Watson, 2018)

Willis Towers Watson's annual Global Pension Assets Study provides a wealth of statistics, covering 22 major pension markets and examining in detail the seven largest (US, UK, Switzerland, Netherlands, Japan, Canada, Australia) which between them comprise over 90% of total pension assets. The report also looks forward to the next 5-10 years, forecasting the likely shifts in pension fund policy and the key issues they will be discussing.


 

Digital Assets for Award Winners (including highly commended papers) 

Savvy Investor has created digital assets (award banners and links) for you to publicise your award in social media, blogs, emails, newsletters and on your website.

To receive your digital assets, please email business@savvyinvestor.net.



About the Savvy Investor Awards

The World's leading content platform for institutional investors

Savvy Investor is the world’s leading resource hub for institutional investors. Having uploaded more than 25,000 pensions and investment white papers since launch, we have a unique platform from which to host these Awards. The Savvy Investor Awards are judged on the basis of the quality and readability of the paper and its appeal to our institutional investor audience. Since launch in 2015, more than 33,000 institutional investment professionals have registered for the site, with 200-250 new members joining every week.

To find out how you can partner with Savvy Investor in 2019 to enhance your thought leadership credentials in the institutional investor marketplace, please contact our Business Development Manager, Stuart Blake, stuart.blake@savvyinvestor.net.

 

related content