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 conc
The week on Risk.net, July 7-13, 2018Receive this by email