UK - Duncan Rankin has been appointed as Threadneedle Investments' product specialist director to its institutional business to implement its LDI solution and provide technical support in this service.
Rankin was promoted from Threadneedle’s product strategy team where he worked for six years as a product development manager. He will assume his new role in September.
Paul Bourdon, former director of investment solutions, left company after 18 months where he finalised the solution’s design.
Madeline Forrester (pictured), head of UK distribution, Threadneedle Investments, said: “Duncan’s appointment reinforces our commitment to working closely with trustees, corporate sponsors, consultants and insurers.
“The increased interest in LDI recognises that the fund management industry has a significant part to play in helping pension schemes meet their liabilities.”
This week the £320m London Borough of Bromley pension fund announced it had awarded Crédit Agricole Asset Management (CAAM) a £40m LDI/target return mandate.
In May, Mercer Investment Consulting released a survey of more than 570 European pension funds which found 10% of UK schemes were considering cash-flow matching or liability-benchmarked strategies for 2006, either through physical bonds, swaps or liability-driven mandates.
In Ireland and the Netherlands, use of swap overlays and liability-benchmarked mandates was tipped to grow by up to 40%, though exposure elsewhere in continental Europe was expected to be limited.
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