DYNAMIC RISK MANAGEMENT

Redington and the GHG Pension Plan worked together to put in place a Pensions Risk Management Framework to lay out their goals and objectives clearly to all stakeholders and agree a course of action. As a result, in the following months and years, equity allocation was reduced from 90% to zero, and hedge ratios increased from 3% to c. 90% over the same period after 2010. Overall, the funding level was higher than what it would have been under the original strategy, while risk as measured by Value at Risk (VaR) was reduced by around 80%.

The Scheme now navigates its Flight Plan to full funding through timely and effective decision-making. In 2013, Redington continued to support GHG Pension Plan in monitoring its Flight Plan and staying on track through innovative investment strategy recommendations. The Scheme ended the year better funded and with a lower relative risk to the original strategy. 

 

GHG case study

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