SubscribeRanked by Pensions & Investments as the largest LDI manager in the U.S. for 2021,1 NISA offers their perspective on key structural differences between the U.S. and U.K. LDI markets. David Eichhorn, NISA CEO and Head of Investment Strategies, was recently a guest of Ira Jersey’s on Bloomberg Intelligence’s Macro Matters podcast about LDI.
An excerpt from the Bloomberg podcast summary titled “U.S. Pension Fund Investing: Macro Matters” includes the following:
Eichhorn discusses how LDI investments differ from other types of plans, how his firm manages risk and his view for the future of the pension industry. During a discussion about if U.S. pensions could contribute to a market move similar to what occurred in the U.K. in the recent past, Eichhorn notes that U.S. plans take much less interest risk and manage derivative collateral much differently than their cousins across the pond.
Listen to the podcast here or look for it on your favorite podcast app.
1Source: Pensions & Investments (P&I). Rankings were based on U.S. institutional, tax-exempt assets managed internally (covered for overlay) as of December 31, 2021; published on June 5, 2022. Some 444 investment management firms responded to the online questionnaire. To qualify, a firm must manage assets for U.S. institutional tax-exempt clients, such as qualified retirement plans, endowments or foundations, and answer the minimum required questions. Other survey participants may have reported overlay strategies on a basis other than notional values and, as such, direct comparison and rankings may not be appropriate. No compensation was paid by NISA in connection with obtaining or using this ranking. Visit www.pionline.com for more details, including past rankings and methodology.
