Albert Küller

Articles from Albert Küller

  • THE NEXT BIG THING: STAYING AHEAD OF THE CURVE OR BACK TO BASICS?

    Pension schemes and consultancies are always looking for the next big thing: a pension scheme’s main concern is to secure members’ benefits, while consultants want to facilitate this (ideally generating a modest profit while doing so). As luck would have it, there are plenty of clever fund managers and investment bankers around to help us out. Having spent the majority of his waking hours over the last decade thinking about and working with economics and investments, this author would like to offer a few lessons learned the hard way.   Removing randomness, the lon ... ..read more
  • THE QUANTITATIVE TIGHTENING

    QE & the Japanese trials The original expression for Quantitative Easing (QE) “量的金融緩和 “ (“ryōteki kin'yū kanwa”) was coined in Japan in the 1990s. By 2002 Japan had already experienced what many called a “lost decade”; since 1999 the Bank of Japan (BoJ) has maintained short term interest rates at around zero per cent in an attempt to encourage economic growth. When central bank interest rates are close to zero, it is usually considered the end of traditional monetary policy: at this point a central bank has very few “conventional” ... ..read more
  • ÜBER-GILTS: CUI BONO?

    Co-authored by Maria Nazarova-Doyle, investment consultant at Bluefin  Setting the scene The United Kingdom Debt Management Office, spurred by the UK Government, has published a formal consultation document to assess the market’s opinion on the proposed issuance of super-long and perpetual Gilts. Super-long Gilts are those with maturities in excess of 50 years, potentially significantly so. Perpetual Gilts have no fixed maturity. Investigating the motive We thought it would be a good idea to find out who will benefit from such a proposal. Issuance o ... ..read more
  • MEAN REVERSION - AN INTANGIBLE CONCEPT?

    It has been widely documented that Gilt yields are at their lowest level since records began in 1703. These historically low Gilt yields have resulted in pension schemes having to use record low discount rates when calculating the present value of their liabilities. With many pension schemes currently undergoing valuations, trustees had hoped that the Pensions Regulator would provide guidance. Specifically many had hoped that schemes would be allowed to adopt a ‘long running average yield’ approach when setting scheme specific discount rates; this turned out not to be the case ... ..read more

Albert is an Investment Consultant and Economist at Capita. Being a Swedish national, he worked for the Swedish Foreign Ministry as an Economist in Eastern Europe before joining Bloomberg L.P in London. More recently he comes from roles with McGraw-Hill companies and the Pension Protection Fund.
 
True to his Economist background Albert’s main interests lies in Economics, Global Macro and Politics. Albert enjoy problems and challenges and is a fan of conventional wisdom and simplicity rather than overly complicated solutions.

When Albert isn’t working you are likely to find him running along the river Thames or playing tennis.

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