Why does the Fund perform an ALM study?

ALM stands for Asset Liability Modelling. A study aimed at determining the optimal long-term allocation of investment assets in order to meet the Fund’s commitments. The study is based on the Fund’s obligations and the expected return, risk and correlations of different asset classes, and serves as a basis for the composition of the BENCHMARK

A reference index against which the rate of return for the strategic benchmark is compared. The benchmark is used to measure the Fund’s performance....

")' onmouseout='hideDescription()' >benchmark is determined by the Fund’s Board of Directors based on the results of ALM studies. The strategic benchmark then functions as the benchmark index against which the Fund’s risk and return profile are compared....

")' onmouseout='hideDescription()' >strategic benchmark.