EDHEC calls for ALM changes to pension fund rules

European pension funds would experience greater stability if regulators amended asset liability management (ALM) rules to permit short-term risk taking using internal risk management models, a new paper argues.

The study, entitled Impact of regulations on the ALM of European pension funds, from the Nice-based EDHEC Risk and Asset Management Research Centre, looked at the impact of the accounting and prudential constraints that ALM has on pension funds in the Netherlands, UK, Germany and Switzerla

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