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How should a retirement fund that must make fixed payments to retirees invest its portfolio? This case introduces students to a variety of concepts in fixed income investing, focusing how on the need to make fixed payments changes portfolio management strategy. Students consider the advantages and disadvantages of asset-liability matching as an investment strategy and learn how to implement such a strategy in practice.

Describes the first major risk financing using catastrophe bonds. Provides a basis for discussing the securitization of insurance risks.

Spreadsheet Supplement for case 298007

Spreadsheet Supplement for case 296004

The Chicago Mercantile Exchange needs to decide how to design, and whether and when to introduce, a futures contract on the Mexican peso.