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

Description: The article discusses indexed-linked securities in the United Kingdom and the relationship between the prices of index-linked securities and interest rates, common stock prices and a combination of these.

Description: Discusses the evolution of the Valuation Actuaries Symposium since the 1980s.

Description: This article reports on a meeting of the Finance Practice Area and the issues on which they are focusing.

Description: Article from The Actuary, May 1971 – volume 5 - Issue 5 talks about the potential opportunity for actuaries working on Wall Street.

Description: Features Editor Deborah Poppel met with CFOs Bertram Pike, of John Hancock, and Ralph Verni, of The New England. They talked about the role of the CFO and the environment in which they operate.

Description: This article looks at the recent trend of mergers and acquisitions between very large organizations. The driving forces, issues involved and keys to success are discussed. The role of the actuary in this process is also reviewed.

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: 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.