The Revolution in Techniques for Managing Bond Portfolios

Institute of Chartered Financial Analysts Seminar Proceedings

3-4 February 1983 New York; 23-24 March 1983 San Francisco

The Future: Where Do We Go From Here?

Cover Page

List of Speakers and short biography of me

Contents Page

Overview of my remarks and key points for consideration: Developing the Fund's Asset Mix

First Page

Pension Officer's Role. Decision Process Inputs and Analysis.

Second Page

Historical/Consensus Forecasted Economic Rates/Returns at 25th February 1981

Third Page

Forecasted Bond and Stock Returns at 25th February 1981

Fourth Page

Fixed Income Portfolio Characteristics at 30th September 1981

Fifth Page

Return Analysis in Varying Fixed Income Environments. Developing a Multiscenario Forecast. Implementing a Cash Management System.

Sixth Page

Wealth Generation and Returns in Varying Economic Environments

Seventh Page

Positioning Best Return-Risk Trade-off. Implications of Analysis. Bond Portfolio Management Techniques for Pensions.

Eighth Page

Current Asset Allocation Structure at 1st March 1982 with Unweighted and Weighted Expected Returns

Ninth Page

Views on Dedication, Immunization, Contingent Immunization and Active Management

Tenth Page

Future Challenges for Managers. Question and Answer Session: how was the synthetic put constructed and to what degree was it used in the portfolio?

Eleventh Page

What does the term "Portfolio Protective Management" mean?

Twelfth Page

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