PPF urged not to ignore CDS in risk assessment

Isda is concerned the PPF will ignore the protection offered to pension funds by CDS

The UK Pension Protection Fund (PPF) should recognise credit default swaps (CDS) when assessing the risk attached to pension funds' investments, argues Isda. The PPF is in the middle of a move from a flat rate levy on pension funds to a levy based on the risk involved in each fund's portfolio. The move has been welcomed by fund managers, who condemned the flat rate plan as subsidising risky funds at the expense of safe ones.

However, Isda is concerned that when the PPF starts to assess funds, it

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