How has LDI changed over the last year?

Have falling interest rates over the last year finally persuaded trustees and sponsors that yields may not revert to the mean, or do they expose liability hedging as expensive flattery of scheme balance sheets? Axa Investment Managers' Jonathan Crowther, Barnett Waddingham's Sophia Heathcoat, Dalriada Trustees' Simon Cohen, Hymans Robertson's Alen Ong, Law Debenture's David Felder and Standard Life Investments' Mark Foster discuss.

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