Asset Liability Management (ALM) for Pension Funds

Genève, mai 29, 2013
Asset Liability Management (ALM) for Pension Funds
Topic
Pension funds currently face challenging conditions like historically
low interest rates, uncertain market conditions, increased life
expectancy of the pension fund participants and a legal framework (BVG) that was not designed for close to 0% interest rates.
At this seminar we aim to provide insight into various measures a
pension fund can take to manage these challenging conditions.
The common denominator of these measures is called Asset
Liability Management where both sides of the balance sheet of
the pension fund (assets and liabilities) are managed jointly.
During the seminar we will give an overview of the Swiss pension
fund system, including a comparison of the structure observed
at most Swiss pension funds with structures of pension funds in
other countries. The main topic of the seminar is Asset and
Liability Management. The various components of an ALM study
will be covered ranging from objective definition, risk budget
specification to strategy selection. In this process most providers
use a scenario methodology to provide insight into the different
choices that can be made, assisting pension fund boards in
selecting the strategy best suited to match the liabilities of the
pension fund. After the strategy has been implemented a more
continuous risk budgeting process starts in which the actual risk
utilization is monitored. Breaches of the risk budget need to be
followed by a reallocation in the portfolio. Significant changes in
market conditions could also lead to a more efficient utilization
of the risk budget.
Content
Introduction to pension funds
– Defined Benefit, Defined Contribution, “Swiss Solution”
– Valuation and discounting methods
– Legal basis (BVG)
– Comparison with other countries
– Overview of the current status of Swiss pension funds
ALM for pension funds
– Overview Asset and Liability Management
– Important definitions
– Components ALM
– Forward looking projections
– Practical examples
Risk Management for Pension Funds
– Overview of process
– Ex-post and ex-ante risk management
– Definition and steering of risk budget
Other applications of Asset Liability Management
– Insurance companies
– Private individuals
Who should attend?
Everyone who is involved or interested in learning more about the
use of Asset Liability Management for pension funds and wants a
deeper insight in the various components of an ALM study.
Language
English
Time and Venue
09:30 – 12:30 and 14:00 – 17:00
Société de Lecture, 11, Grand-Rue, 1204 Genève
(For map details: www.societe-de-lecture.ch)
Seminar fees
SFAA members´attendance is free of charge.
(Please refer to the Articles of Association, www.sfaa.ch)
For non SFAA members the fee is CHF 625.– and includes
documentation.
Registration
Register online (www.azek.ch/campus) or apply with the
Registration form on the reverse.
Information
For more information please contact the secretariat of AZEK at:
AZEK AG, Feldstrasse 80, 8180 Bulach, Switzerland
[email protected]
T+41 44 872 35 35
F+41 44 872 35 32
Genève, mai 29, 2013
Asset Liability Management (ALM) for Pension Funds
Sinikka Demaré, CFA, Director at Ortec Finance Switzerland
Sinikka Demaré joined Ortec Finance in 2007 and founded Ortec Finance in Switzerland. Until 2011, she acted
as the Managing Director: during this time she expanded the business and took direct responsibility for several
large institutional investors. In her current client focused role, Mrs. Demaré is responsible for solutions for ALM
and risk management for pension funds, insurance companies as well as for asset and private wealth managers.
Prior to 2007, Mrs. Demaré worked 20 years for Dow Chemical in corporate finance, business management as
well as strategic and tactical management of the pension funds in Europe.
Mrs. Demaré has a Master of Science in Economics from the Business School of Helsinki and is a Chartered
Financial Analyst. She was recently elected as one of the top 25 global Knowledge Brokers, ai-CIO Magazine’s
listing of world’s top investment consultants.
AZEK Campus – Inscription
Inscriptions en ligne sur le site www.azek.ch/campus
Je m’inscris au séminaire «Asset Liability Management
(ALM) for Pension Funds» de l’AZEK Campus du 29 mai 2013
à Genève
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AZEK, Feldstrasse 80, 8180 Bülach, F +41 44 872 35 32, [email protected], www.azek.ch/campus
Conditions générales
Les frais de participation au séminaire sont payables dès réception de la facture.
Un séminaire est organisé seulement si le nombre de participants est suffisant.
Si nécessaire, l’AZEK peut annuler un séminaire au plus tard 5 jours ouvrables avant
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