Speaker: Phil Galdi
Company: Merrill Lynch
Member Cost: $25
Non-Member Cost: $30
Contact Laurie Mardis for more information.
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.