CFA Level 3 | Cash Flow Matching - Calculating Par Value
Автор: Fabian Moa, CFA, FRM, CTP, FMVA
Загружено: 2025-01-31
Просмотров: 1157
CFA Level 3
Volume: Portfolio Construction
Learning Module: Overview of Fixed-Income Portfolio Management
Cash flow matching in liability-driven investing (LDI) is a strategy where an investor structures their portfolio to generate cash flows that precisely align with the timing and amount of their future liabilities. This involves selecting assets, such as bonds, that produce coupon payments and mature at the same time as the liabilities come due. By carefully matching cash inflows with outflows, investors aim to minimize the risk of not having sufficient funds to meet their obligations, such as pension payouts or insurance claims.
In this video, I will walk through an example on calculating the required par value of bonds used for cash flow matching.
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