Publications

Equity Briefing Note - 'I agree with Nick...' - 27 April 2010

A Briefing Note on shaped equity solutions for pension schemes concerned with better managing and controlling their exposure to equity risk.

P-Solve RMS has themed its briefing note, entitled 'I agree with Nick…' around the General Election, and draws an analogy between the choices facing voters and the options available to investors in order to illuminate an area often seen as over-complicated.

Equity Briefing Note - 'I agree with Nick'

Liability Hedging: the LDI-Lemma - 04 December 2009
	The note explains how not managing liability risk can be a dangerous approach for pension schemes and exposes them unnecessarily to funding level volatility. Liability Hedging: the LDI-Lemma

Swaptions Briefing Note - 01 October 2009
	An introduction to using swaptions as part of a liability hedge Swaptions can be used to enter into a liability hedge gradually as interest rates rise and structured correctly, the scheme gets paid for taking the decision to hedge. A useful new addition to your liability hedging tool box. Swaptions Briefing Note

Liability Risk Management - The Basics - 01 July 2009
	Covers the basic principles of a liability hedging strategy Liability risk has increasingly become a focus for pension schemes. A liability risk management strategy aims to make the total assets move more closely with the liabilities of the scheme therefore stabilising the funding level. Liability Risk Management - The Basics

The Equity Market is Dead Long Live the Equity Market - 01 November 2008
	An update on shaping equity in a changing investment landscape. Over the last quarter of 2008 P-Solve implemented a number of shaped equity solutions for clients. In this paper we review the pricing of the most popular structure and why it is suitable in the current market enviroment. The Equity Market is Dead Long Live the Equity Market

Alternatives to Buyout - 01 June 2008

De-risking alternatives for pension schemes including liability hedging and mortality swaps.
There has been a lot of discussion in the press recently about the buoyancy of the buyout market. Whilst buyout might be a good idea in principle for some schemes, the costs can sometimes be prohibitive. In this paper, we discuss alternative options for “de-risking” a pension scheme.

Alternatives to Buyout

Equity Hedging Update - 01 January 2008
	Flying with the Condor Over the course of 2007 P-Solve implemented a number of shaped equity solutions for clients. In this paper we review the pricing of the most popular structure (a Geared Call Spread on a World Basket) and explore an alternative option in current market conditions. Equity Hedging Update

Shaping Equity Returns - 01 February 2007
	A discussion about the uses of derivatives to manage equity returns. Equities clearly have a place in a pension scheme’s investment strategy from a return generation perspective. This paper discusses whether, in the current market environment, these returns can be shaped to make them more consistent with trustees’ objectives. Shaping Equity Returns

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