Ryan ALM
Blog
Pension Plan Sponsor: "I Wish that I could..."
In October, I will celebrate my 45th year in the pension/investment industry. I've been truly blessed, but also frustrated by activities that I deem detrimental to the successful management of DB pension plans. First and foremost, I believe that a...
What is My Funded Ratio? Who Cares!
The funded ratio of a DB pension plan gets a lot of attention, especially if it is perceived to be weak. But does the funded ratio truly tell you the whole story as to the financial health of a DB...
Eliminate the Uncertainty
There are many benefits to using Cash Flow Matching (CFM) for your pension plan, endowment or foundation. The obvious benefit is the liquidity that is created to meet ongoing expenditures, whether benefit payments or grants. That liquidity comes at a...
It Should Be Relative and NOT Absolute
I was participating on a panel at the Opal/LATEC conference yesterday. The moderator asked a question about the importance of process. In my response, I mentioned a number of process elements that are critical to the successful management of pension...
“Everybody’s looking under every rock.” Jay Kloepfer
Institutional Investor's James Comtois has recently published an article that quoted several industry members on the near-term (10-years) return forecast for both public and private markets, which according to those asked are looking anemic. No one should be surprised by...
You Don't Say!
Morgan Stanley has published the results from their Taft-Hartley survey , in which they have to provided "insights into how Taft-Hartley plans are managing priorities and navigating challenges to strengthen their plans". I sincerely appreciate MS's effort and the output...
AI Needs An Education Regarding ALM/CFM!
I asked an AI tool that I use the following: Asset/Liability Management (ALM) is an effective tool for pensions. What strategies are currently being deployed? As usual, the response was nearly instantaneous, but was it correct? Here is what I...
Don't Engage in a Cash Sweep - Dividends Matter!
We've already shared with you the importance of dividends to the long-term return of the S&P 500 by referencing studies conducted by Guinness Global Investors . According to the Guinness study, which was last updated as of April 2020, the...
HF Assets Hit Record - Why?
I touched on the subject of hedge funds a few years ago. Unfortunately, results haven't gotten any better. Yet, P&I is reporting that Hedge Fund assets have reached an all-time high of $5.7 trillion. My simple question - WHY? I...
Capital Distributions From Private Equity Collapse
I recently published a blog titled, Problem - Solution: Liquidity , in which I discussed the impact of pension plan sponsors cobbling together interest, dividends, and capital distributions from their roster of managers, and how that practice was not beneficial,...