SSGA plants Palms in US

State Street Global Advisors has launched a US version of its Pooled Asset Liability Matching Solution (Palms), which helps plan sponsors manage interest rate and duration risk. The tool was first launched in the UK last year.

The tool uses a pooled series of five-year swaps vehicles, primarily invested in zero-coupon swaps, reaching out over 40 years to help users extend the duration of their assets and manage interest rate changes to ensure sufficient cashflows for projected liabilities.

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