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Standish enhances LDI overlay capabilities

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Standish Mellon Asset Management Company has named Max Guimond to the newly created position of solutions strategist for its Liability Driven Investing (LDI) group.

Guimond, who reports to Andrew Catalan, managing director and senior portfolio manager, is focusing on managing overlays, augmenting Standish's strong cash bond capabilities. Guimond will oversee the implementation of completion strategies that utilise cash and derivatives to hedge the inherent risks in a defined benefit pension plan.

LDI strategies have become an increasingly important tool for defined benefit pension plans seeking to reduce volatility in the funded status of their plans. Standish manages approximately USD15.4 billion in LDI strategies.

"As plan sponsors continue their efforts to minimise the effects of market volatility on the funded status of their plans, they increasingly rely on hedging managers specialising in LDI for solutions that go beyond traditional fixed income investments," says Catalan. "With Max joining our team, Standish increases the flexibility it can bring to managing risk across a wide array of asset classes."

Guimond says: "Successfully implementing LDI requires consideration of the total plan portfolio, including return-seeking assets such as equities.  Standish utilises tools that can provide an additional level of customisation that goes beyond commonly used fixed income corporate-based or government-based benchmarks."

Based in Standish's Boston headquarters, Guimond previously worked as a solutions strategist for Legal & General Investment Management America, where he structured LDI solutions. He also managed LDI portfolios for the firm.  Earlier in his career, he was a financial risk manager and derivatives trader for Milliman Inc.

Guimond received his bachelor's degree from Dartmouth College. 

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