The Secret CDO

Cover Story

pg10-dasgupta-gif

Partha Dasgupta, chief investment officer of the Pension Protection Fund (PPF), has a secret. The PPF, set up to safeguard the defined benefit pension schemes of insolvent UK employers, is at heart a giant synthetic collateralised debt obligation (CDO). This analysis might alarm most of the 12,000-odd companies covered by the PPF, for whom the concept of even treating a deficit as a financial liability is still a novelty.

"That's not how we'll articulate it to the pension world" Dasgupta concedes

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here