EUROPE - Fortis Investments has received approval from the Luxembourg CSSF authorities for its range of pooled liability-driven investment funds for institutional investors.
Last month Global Pensions reported on Fortis’ plans to launch three LDI solutions – a basic swap solution, extra-long bond funds with durations of 15, 20 and 25 years respectively and a leveraged duration solution which will enable pension funds to match their liabilities, whilst maintaining an active investment strategy.
The approval comes as LDI gains increasing interest from pension funds across Europe on the back of regulatory changes which require funds to value their liabilities at market rates, instead of fixed discount rates.
Jan Lodewijk Roebroek, Fortis Investments’ CEO in the Netherlands, said: “This is particularly important in the Netherlands where the upcoming introduction of FTK is also impacting a large number of small and medium-sized pension funds that do not have the resources for individual, non-pooled LDI solutions.”
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