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- Title
A systematic approach to bond management in pension funds.
- Authors
Trainer Jr., Francis H.; Levine, David A.; Reiss, Jonathan A.
- Abstract
The article focuses on the development of bond portfolio management in pension funds to promote risk reduction. In creating a balance between equity and fixed-income securities, guaranteed investment contracts and management strategies related to immunization are not advisable since they start at high level of riskiness and then lessen eventually. It is suggested that the right approach is to choose an asset mix and a degree of risk for the fixed-income portion which is proportional to the total portfolio.
- Subjects
PENSION trusts; INVESTMENTS; BOND funds; STOCKS (Finance); GUARANTEED investment contracts; PORTFOLIO performance; FIXED incomes; ASSETS (Accounting); RISK management in business
- Publication
Journal of Portfolio Management, 1984, Vol 10, Issue 3, p30
- ISSN
0095-4918
- Publication type
Article
- DOI
10.3905/jpm.1984.408963