background swath


NISA on Bloomberg Intelligence Podcast

shutterstock for web

Ranked by Pensions & Investments as the largest LDI manager in the U.S. for 2021,1 NISA offers their perspective on key structural differences between the U.S. and U.K. LDI markets. David Eichhorn, NISA CEO and Head of Investment Strategies, was recently a guest of Ira Jersey’s on Bloomberg Intelligence’s Macro Matters podcast about LDI.

An excerpt from the Bloomberg podcast summary titled “U.S. Pension Fund Investing: Macro Matters” includes the following:

Eichhorn discusses how LDI investments differ from other types of plans, how his firm manages risk and his view for the future of the pension industry. During a discussion about if U.S. pensions could contribute to a market move similar to what occurred in the U.K. in the recent past, Eichhorn notes that U.S. plans take much less interest risk and manage derivative collateral much differently than their cousins across the pond.

Listen to the podcast here or look for it on your favorite podcast app.

1Source: Pensions & Investments (P&I). Rankings were based on U.S. institutional, tax-exempt assets managed internally (covered for overlay) as of December 31, 2021; published on June 5, 2022. Some 444 investment management firms responded to the online questionnaire. To qualify, a firm must manage assets for U.S. institutional tax-exempt clients, such as qualified retirement plans, endowments or foundations, and answer the minimum required questions. Other survey participants may have reported overlay strategies on a basis other than notional values and, as such, direct comparison and rankings may not be appropriate. No compensation was paid by NISA in connection with obtaining or using this ranking. Visit for more details, including past rankings and methodology.

Disclaimer: By accepting this material, you acknowledge, understand and accept the following:

This material has been prepared by NISA Investment Advisors, LLC (“NISA”). This material is subject to change without notice. This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. This information is provided with the understanding that with respect to the material provided herein (i) NISA is not acting in a fiduciary or advisory capacity under any contract with you, or any applicable law or regulation, (ii) that you will make your own independent decision with respect to any course of action in connection herewith, as to whether such course of action is appropriate or proper based on your own judgment and your specific circumstances and objectives, (iii) that you are capable of understanding and assessing the merits of a course of action and evaluating investment risks independently, and (iv) to the extent you are acting with respect to an ERISA plan, you are deemed to represent to NISA that you qualify and shall be treated as an independent fiduciary for purposes of applicable regulation. NISA does not purport to and does not, in any fashion, provide tax, accounting, actuarial, recordkeeping, legal, broker/dealer or any related services. You should consult your advisors with respect to these areas and the material presented herein. You may not rely on the material contained herein. NISA shall not have any liability for any damages of any kind whatsoever relating to this material. No part of this document may be reproduced in any manner, in whole or in part, without the written permission of NISA except for your internal use. This material is being provided to you at no cost and any fees paid by you to NISA are solely for the provision of investment management services pursuant to a written agreement. All of the foregoing statements apply regardless of (i) whether you now currently or may in the future become a client of NISA and (ii) the terms contained in any applicable investment management agreement or similar contract between you and NISA.