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Apr 24, 2023 · You may also want to ask your LDI manager what steps they have taken to meet the good practice in LDI management set out by the Financial Conduct Authority, and, in relation to any pooled funds you use, how they meet the guidance put out by the National Competent Authorities (the Central Bank of Ireland and the Commission de Surveillance du Secteur Financier of Luxemburg) (NCAs).
Apr 24, 2023 · Our guidance and recommendations for Liability Driven Investment (LDI) managers. 1. Introduction. The FCA has been collaborating with UK and international regulators to enhance the resilience of the Liability Driven Investment (LDI) sector. As part of this work, we have also engaged with asset management firms as they enhance their resilience ...
Apr 24, 2023 · LDI managers will need to have regard to guidance put out by the Financial Conduct Authority, and pooled LDI funds to that put out by the National Competent Authorities (the Central Bank of Ireland and the Commission de Surveillance du Secteur Financier of Luxemburg). The Pensions Regulator is the regulator of work-based pension schemes in the UK.
Pooled fund mandates (invested alongside other schemes) Otherwise, the overall mandate with the LDI manager will typically comprise different pooled funds with no overall fund wrapper. If this is the case, create a separate entry for each leveraged LDI pooled fund you invest in. Disregard any unleveraged funds you hold with the LDI manager.
On 24 April 2023, the FCA and The Pensions Regulator (TPR) published new guidance on how Liability Driven Investment (LDI) strategies in pooled, leveraged funds should be managed by asset managers and pension schemes.
Jun 23, 2023 · - LDI reporting should be split by pooled funds and segregated portfolios - Headroom (yield increase) to asset exhaustion in collateral pools supporting LDI strategies. 185 Sarah Breeden referred to the need for basic data on the size of LDI funds, the assets held, their exposure or leverage and how that associates with the scheme’s growth assets. 186
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Feb 19, 2024 · The cost of these can be prohibitive for some schemes. Single-investor pooled funds also exist but they retain most of the costs of a segregated LDI mandate, making them costly for small-to-medium size pension schemes. Multi-Investor pooled funds, in contrast, have a number of benefits: Delegated governance. Regulated fund structures.
