Hosted by AEGON USA Investment Management LLC

Speaker: Phil Galdi
Company: Merrill Lynch
Member Cost: $25
Non-Member Cost:  $30
 
Contact Laurie Mardis for more information.
(lmardis@wbcap.net)

 

This presentation will discuss the shortcomings of performance measurement as it is used for many fixed-income investors today and how these shortcomings can be addressed.  Topics to be discussed include a search for missing performance factors such as ignoring the impact of results of policy decisions and benchmark selection.  

 

Also covered is book income performance measurement for insurance and other book income-oriented investment portfolios, how it is possible to neutralize this effect when assessing relative performance, and at the same time deal with complex tax constraints. 

 

Finally, the pension problem:  beating the wrong benchmark can be painful!Traditional use of standard market cap benchmarks has created huge asset-liability gaps for pension plans, which in turn led to eroded funding status for many. 

 

Who should attend:  Anyone interested in developments in fixed-income investment performance measurement.  This presentation should be of special interest to insurance company representatives, pension plans and those who manage assets for them because it shows how performance can be measured both on a total return and on a book basis.

 

DRIVING DIRECTIONS TO AEGON
NORTH POINT 2 BUILDING
(NUMBER 4515)

 

FROM THE SOUTH (DES MOINES/IOWA CITY)

From I-80, take I-380 North to Cedar Rapids, following I-380 through downtown, continuing north to Exit 24A (Collins Road, Highway 100) [immediately preceding exit is 42nd Street].  Exit on 24A – stay in the left lane and follow signage for Highway 100 Westbound through a series of stoplights.  Once on Highway 100 heading west, stay in the right of two lanes.  Highway 100 ends after about one mile.  Two lanes change to three at the stoplight – stay in the middle lane and turn left onto Edgewood Road.  Take the first right turn off of Edgewood Road onto North River Blvd.  Take the first left from North River into AEGON’s parking lot, a curved road passing by two identical office buildings.  North Point 2 is the second building, the further of the two from Edgewood Road, and has the numbers “4515” on its side. 

 

(PLAN B:  If you miss Exit 24A, but are able to catch Exit 24B (Blairs Ferry Road), stay to the left on the exit and turn left (west) onto Blairs Ferry Road.  Once on Blairs Ferry Road, proceed west through a number of stop lights to Edgewood Road.  Turn left onto Edgewood Road through several stoplights, preparing to turn right onto North River Blvd (immediately after the intersection of Edgewood Road and Highway 100).  Take the first left from North River into AEGON’s parking lot, a curved road passing by two identical office buildings.  North Point 2 is the second building, the further of the two from Edgewood Road, and has the numbers “4515” on its side.) 

 
FROM THE NORTH (WATERLOO/CEDAR FALLS)

From I-380 heading south, take Exit 24 (Blairs Ferry Road, Collins Road, Highway 100) as you approach the north side of Cedar Rapids [immediately preceding exit is Boyson Road].  Follow the signage to Collins Road, Highway 100 Westbound – this entails going straight at the first stoplight after exiting (which is at Blairs Ferry Road), keeping to the right after the first stoplight for the upcoming right turn onto Highway 100 Westbound.  Once on Highway 100 heading west, stay in the right of two lanes.  Highway 100 ends after about one mile.  Two lanes change to three at the stoplight – stay in the middle lane and turn left onto Edgewood Road.  Take the first right turn off of Edgewood Road onto North River Blvd.  Take the first left from North River into AEGON’s parking lot, a curved road passing by two identical office buildings.  North Point 2 is the second building, the further of the two from Edgewood Road, and has the numbers “4515” on its side.

 

(PLAN B:  If you end up turning right onto Blairs Ferry Road at the first stoplight, proceed west through a number of stop lights to Edgewood Road.  Turn left onto Edgewood Road through several stoplights, preparing to turn right onto North River Blvd (immediately after the intersection of Edgewood Road and Highway 100).  Take the first left from North River into AEGON’s parking lot, a curved road passing by two identical office buildings.  North Point 2 is the second building, the further of the two from Edgewood Road, and has the numbers “4515” on its side.)