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The Actuary The magazine of the Institute & Faculty of Actuaries

Finance & Investment Board news

‘Pushing out the boundaries’

In support of our programme To help pensions and insurance actuaries understand how risks can be managed through investment strategy and products, Shane Whelan is leading a project aimed at helping qualified actuaries to keep abreast of theoretical developments within the broad sphere of their professional activities. The initiative is particularly focused on areas of investment and finance where developments of the past few decades have been most marked. Our aim is to promote a specifically actuarial approach to finance and investment. We shall begin by commissioning a series of monographs, each focusing on one major theme in finance and investment and relating it to actuarial practice.

Shane will approach academics involved in fields related to actuarial areas and encourage them to apply for one of the profession’s research grants (deadline 31 January 2004). We are open to ideas on the subject matter of the monographs. Our hope is that early monographs in the series would address one of the following themes:

  • overview and comparison of risk measures applied to portfolios dedicated to meeting liabilities;
  • key principles of asset-liability management in actuarial applications.
If you are interested in contributing to these monographs or in applying for a research grant, please contact Mark Symons, email marks@actuaries.org.uk.

Publications on offer

We have a number of publications in stock which are available on request. If you would like any of them, please let Pat Rustem know how many copies you require and your full postal address, email patr@actuaries.org.uk.

  • Do actuaries know how to measure value? – sets out questions about the determination of ‘value’ for various purposes.
  • Report on equity release mechanisms – an exposition of how different equity release vehicles work.
  • Portfolio risk measurement and reporting: an overview for pension funds – explains portfolio risk measurement to pension fund trustees and their advisers.
  • A study of mortgage prepayment risk – explores the causes and results of the prepayment of fixed-rate mortgages.
  • Will sales regulation change the face of the mortgage industry? Learning from history – assesses the likely implication of mortgage sales regulation on the structure and shape of the mortgage industry.