HARTFORD, Conn.--(BUSINESS WIRE)--Conning, a leading global investment manager serving institutional investors, today announced the launch of an innovative pooled fund suite focused solely on liability-driven investment (LDI) solutions for U.S. corporate pension plans. Concurrently, Conning announced the appointment of Erin Spalsbury as Head of LDI Portfolio Management to oversee all LDI mandates managed by the firm, including separately managed accounts and the new pooled fund offering.
“Conning is deeply committed to helping pensions solve their funding challenges, leveraging our extensive LDI investment experience and our expanding global investment platform,” said Woody Bradford, Chairman and Chief Executive Officer of Conning. “It is the next logical step in our strategic efforts to grow the Conning business to serve institutional investors’ evolving needs,” added Bradford.
New LDI Pooled Fund Suite
The pooled fund suite, structured as Collective Investment Trust (CIT) vehicles, offers pension plans various investment options depending on where they are in their derisking glidepath. The funds serve as building blocks to customize a pension plan’s investment strategy. They range from standard long-duration to maturity-bucketed credit sleeves that can be used on their own or blended to develop a customized LDI strategy. Additionally, there are funds that provide interest rate exposure via derivatives on a levered basis.
Overall, the CITs are designed to provide pension plans committed to LDI with more efficient, highly-customizable investment options. They also offer small/mid-sized and larger pension plans the ability to implement tailored LDI strategies efficiently. Conning provides solutions to pension plans at all stages of the de-risking glidepath, ranging from those taking their first step in implementing an LDI strategy to those preparing for annuitization or completion management.
“As U.S. defined benefit corporate pension plans continue their de-risking journey, we believe that customizing an LDI strategy becomes even more important for them. Our experienced LDI team utilizes a specialized approach to help clients navigate through their glidepath journey and develop LDI strategies at each step of the de-risking framework,” said Owais Rana, Managing Director and Head of Investment Solutions at Conning.
Industry Veteran Erin Spalsbury Joins Conning’s Investment Team
Spalsbury joins Conning from J.P. Morgan where she spent over 20 years managing credit portfolios and developed a proven track record in managing LDI strategies ranging from standard long duration to highly customized credit portfolios as the lead portfolio manager. Spalsbury brings significant experience and capabilities to Conning’s LDI team.
“We are extremely excited to have Erin lead our LDI portfolio management effort as her experience and skill-set fits well within our comprehensive LDI solutions offering,” added Rana.
Conning’s Investment Solutions business leverages a team with more than three decades of combined experience managing customized asset-liability focused investment mandates, expertise in the U.S. credit markets and the company’s award-winning, proprietary risk modeling software.
Conning (www.conning.com) is a leading global investment management firm with almost $109 billion in global assets under management as of December 31, 2016.* With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, award-winning risk modeling software, and industry research. Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York, and Tokyo.
*As of December 31, 2016, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited, and Cathay Securities Investment Trust Co., Ltd. ("SITE"). SITE reports internally into Conning Asia Pacific Limited, but is a separate legal entity under Cathay Financial Holding Co., Ltd. which is the ultimate controlling parent of all Conning entities.