What's next for investment strategy following LDI crisis?

Sam Seadon says the future is likely to herald less leverage, cost and complexity

clock • 5 min read
The Mount Washington Hotel – the venue for the 1944 Bretton Woods Conference

The Mount Washington Hotel – the venue for the 1944 Bretton Woods Conference

During the 2008/09 Financial Crisis the governor of the People’s Bank of China Dr. Zhou Xiaochuan wrote in praise about John Maynard Keynes’ attempt in the 1940s to introduce “an international currency unit named Bancor, based on the value of 30 representative commodities”.

Instead of this, the US dollar-based Bretton Woods system emerged after World War II, and the dollar still dominates now. In the last five years the supply of imported commodities - such as ener...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now


Already a Professional Pensions member?


More on Investment

LGPS funds plan to boost social impact investing

LGPS funds plan to boost social impact investing

But research found a number of barriers to investing in social infrastructure

Holly Roach
clock 28 March 2023 • 1 min read
Aerial view of PIC’s £268m investment, 2 Ruskin Square, adjacent to East Croydon railway station

PIC agrees £268m forward purchase of 2 Ruskin Square

Croydon office represents second investment by PIC in a net-zero hub within the last year

Martin Richmond
clock 28 March 2023 • 2 min read
Iain Clacher and Con Keating

Being objective about liability-driven investment

Iain Clacher and Con Keating’s response to feedback on their blog on the costs of LDI

Iain Clacher and Con Keating
clock 28 March 2023 • 6 min read