Dutch pensions weigh hedge unwinds ahead of transition
As January 1 nears, Dutch pension funds consider unwind timing to avoid rush to the exit in thin year-end liquidity
Like the prisoner’s dilemma test, Dutch pension funds find themselves having to choose between the collective greater good and their own self-interest.
As the second wave of Dutch pension funds prepares to transition to the defined contribution contract on January 1, larger schemes are having to decide when to unwind long-dated interest rate swaps that will no longer be needed under the new regime
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