Description
The higher the funding level, the more important LDI becomes in determining SAA. Often, the financial risks of pension obligations are limited to interest rates and inflation. In Germany, the credit spread plays a decisive role in defining the pension discount rate and thus also in determining the DBO - by IFRS. Therefore, all three risks should be captured and weighed when physical assets are effective and when derivatives should be used.
Speakers
- Peter Martaller , BNP Paribas Asset Management
- Oliver Stahlkopf , BNP Paribas Asset Management
