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PBGC throws in towel on liability-driven investment

The US Pension Benefit Guaranty Corporation (PBGC) has called time on its commitment to liability-driven investments (LDI) after admitting its current strategy has a less than one-in-five chance of meeting future funding needs.

The business of saying no

Rising energy prices have caused an upturn in demand response - or energy curtailment - in the last two years. Elisa Wood looks at how this is impacting power markets

Sovereign wealth saviours

The financial markets have found their new superhero. With major investment banks on their knees after whopping subprime-related writedowns and liquidity in the bond markets severely affected, the arrival of sovereign wealth funds, with their groaning…

Leveraged loans: Clearing the backlog

While LBO bankers in the US are chipping away at the backlog of deals, Europe seems unable to shift its overhang. Daniel Andrews looks at how differences in the way the two markets have evolved are affecting their chances of tackling the problem

Hedging into controversy

Stockholm-based pension fund KPA's interest rate hedging programme has put it at the vanguard of solvency risk management in Sweden - but unsophisticated local media has mistaken its prudence for a speculative punt on interest rate derivatives.

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