- Introduction & Methodology
- Industry Trends
- Respondent Profile
- Defined Benefit Plans
- Portfolio Characteristics
- LDI Usage
- League Tables
- Vendor Ratings
- Number of Responses and Scores
- Average Scores by Categories
- Vendor Details
- BlackRock
- Goldman Sachs Asset Management
- Jennison Associates
- Legal & General Investment Management America
- NISA Investment Advisors
- PIMCO
- Prudential
- Wellington Management
- Western Asset
Industry Trends
Percentage of Portfolio in LDI
Hedge Ratio
Glide Path in Place
| All | <$1B | >$1B | ||
| Yes, written into IPS as a ‘contract’ | 9% | 8% | 9% | |
| Yes, written into IPS as an ‘intent’ | 33% | 8% | 36% | |
| Yes, but not written into IPS | 30% | 17% | 32% | |
| No, but plan to | 9% | 33% | 6% | |
| No, and no plans to | 19% | 33% | 16% |
Are Your Triggers…
| All | <$1B | >$1B | ||
| Automatic | 26% | 38% | 25% | |
| Within a range | 74% | 63% | 75% |
Are your triggers based on:
| All | <$1B | >$1B | ||
| Funded ratio | 89% | 89% | 89% | |
| Interest rates | 30% | 0% | 33% | |
| Market outlook | 12% | 0% | 14% | |
| Other | 6% | 11% | 6% |
Number of LDI Providers Used
| All | <$1B | >$1B | |
| Average | 3.2 | 1.6 | 3.4 |
| Median | 3 | 1 | 3 |
Inhibitors to LDI
