Description: The Investment Section will sponsor a seminar on Managing Investment Risk and Returns April 17-18, 1989, at the Marriott Marquis in New York City. The seminar will focus on practical techniques for managing investment risk and enhancing returns for a broad array of both interest-sensitive and portfolio products.

Description: Real estate practitioners are increasingly using “economic location,” rather than “geographic location,” as their primary analytic tool. That trend has gained substantial support among academics and practitioners who believe “economic location” is a more effective basis on which to build the analysis of risk in real estate portfolios.

Description: Irish actuary and professor explains his hypothesis that actuaries, as practitioners, are reluctant to adopt the theories of financial economists unless the models on which the theories are based fit the actual data the actuaries have.

Description: This article discusses calculating the present value given a set of non-level interest rates and a stream of cash flow emerging from that context. This is the nub of a problem that surfaces in determining the adequacy of a reserve in a manner which fully takes into account both the assets and liabilities involved.

Description: Article from The Actuary, January 1971 – volume 5 - Issue 1 uses examples to measure the effect of reinvesting funds at a rate different from that at which the investment is made based on the rapidly changing interest rates.

Description: The final actuarial work of the renowned Briton, Frank Redington. was a series of essays called “The Flock and the Sheep.” They were reviewed here some months ago by Kenneth Stewart. These articles describe what could be characterized as the problem of incidence of earnings on investments inequities. While equities produce the greatest returns over a long time, they tend to have lower returns than debt for the first years of the investment.

Description: This article discusses the new Investment Section. The initial targeted areas are expected to be: Modeling, Corporate Finance, Capital Management and Investment Instruments.

Description: This article will cover the background, objectives, investment strategy, fee structure, and results to date of an investment management account dedicated to convertible securities for a major insurance company’s general account. This account was established in March 1986 and funded in 10 equal monthly installments throughout the remainder of the year.

Description: This article describes the Investment Year Method for allocation of general portfolio investment income and demonstrates the equivalence of a fixed index or declining index system.