Description: Feature article discussing the creation and effects of orphaned VEBAs, Voluntary Employee Benefit Associations.

Description: An introduction to the Product Development Section's new subgroup supporting interested in the practice of in force management.

Description: Recaps April 2015 seminar on derivatives use for fund managers and insurers in China. Describes growth in Chinese derivatives market including CSI 300 futures

Description: Correspondent's report from the Investment Section Breakfast at the SOA Annual Meeting in Austin 2015

Description: Impact of low and negative interest rates on various aspects of insurer operations including product management, investment management and capital management.

Description: Presents results of 2003-2012 cohorts of insurance company private placement bonds. Finds private bonds show a 15bp annual advantage relative to public bonds, due to lower loss severity.

Description: Uses Blackrock's macroeconomic and style factors in asset allocation examples for an insurance portfolio and a pension portfolio.

Description: The author, head of Alternatives Investment Specialists at Fortis Investments, recently presented a research paper on the potential benefits and possible pitfalls of investing in illiquid assets. This newsletter provides a brief summary of that paper. The full paper is available upon request.

Description: Chairperson’s column discussing the state of the world today and how that influences investment strategies and describes to seminars the section sponsored to keep members apprised of changes.

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?