page-banner

Season 4 Episode 4:
Gilts, LDI, DB pensions and what’s next

Our viewpoint

You can listen to our podcasts online via the player below or search for 'Investment Uncut' and review, rate and subscribe on Apple Podcasts, Spotify, Pocket Casts or SoundCloud

This week we’re revisiting one of the key market issues of the moment: DB pensions and LDI.

First, we’re joined by LCP partner Steve Hodder where we discuss some of the actions being taken by pension funds, frameworks for helping clients approach the decisions, a reminder of the core reasons behind LDI and its continued popularity, how the market for LDI is changing and the role of leverage in investing.

We are then joined by independent trustee Keith Scott for his perspective as a fund manager-turned-trustee reflecting on recent events, the role of LDI in the future, the challenges being navigated by managers and what he would like to see from managers going forward.

If you’re interested in how one of the biggest market stories of recent years is evolving, this is a must-listen.

Links mentioned:

We discuss:

  • Key actions that have been taken by DB pension funds in recent weeks
  • Helpful principles/framing that have been helpful to guide decision making at this time
  • What’s been missing from the broader discussion that’s important?
  • How communications have worked with other stakeholders (trustees, company)?
  • The big picture – are schemes well funded? How does this fit into or change longer-term journey plans?
  • Use of LDI in the future, more/less demand? How it is changing LDI structures, liquidity and collateral?
  • Is leverage in investment strategies a good or bad thing?
  • What we would like to see from managers going forward and how LDI might change in the future

How to access our podcasts

You can access all our podcasts across all major audio platforms via computer or devices.

Spotify

Apple Podcasts

Pocket Casts

SoundCloud

Each LCP investment uncut podcast is for information and marketing purposes only and does not constitute any form of investment or financial advice or a financial promotion (under the Financial Services and Markets Act 2000). All views expressed by the podcast hosts and guests are purely their own opinions and do not represent those of LCP, its clients or affiliates. Our podcast listeners should always seek independent financial or legal advice before making any financial or investment decisions. Please refer to the Legal Notices section on the LCP website for further information.​

Our investment thinking

Our investment thinking

Insight hub

The latest recommended reads from our investment experts. From in-depth guides to quick-to-read blogs, we explore a range of themes to help you keep up-to-date.

Enter the hub