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Actuaries, Pension Funds and Investment

Published online by Cambridge University Press:  03 October 2014

T. G. Arthur  and
P. A. Randall
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Abstract

The authors discuss the investment of pension and other institutional funds, stressing a theme of investing to meet liabilities. Their aim is to stimulate debate by actuaries and the investment community, leading to the development of better approaches to pension fund investment and its monitoring.

The first part of the paper considers the matching of assets to liabilities, concentrating on a major principle applicable to actuarial valuations where assets and liabilities are mismatched.

The paper goes on to consider principles of institutional investment and includes discussions of the meaning and measurement of risk, the setting of investment objectives, decision-making, asset allocation and investment performance monitoring.

Type
Research Article
Information
Transactions of the Faculty of Actuaries , Volume 43 , 1992 , pp. 125 - 166
Copyright
Copyright © Institute and Faculty of Actuaries 1992

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References

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