Driven to distraction

Pension funds

Liability-driven investment (LDI) has become one of the hottest, trendiest catchphrases in the financial markets over the past 18 months. Hailed as the saviour of the deficit-ridden pension fund industry, LDI has become one of the most talked about investment strategies in the pension sector.

So far, however, it's been mostly talk. Only a handful of UK pension funds have revamped their investment portfolios to employ LDI strategies. Some cite the time it takes to complete a deal, adding that