We provide institutions with consultancy and advisory services in the following areas:

• Strategic investment advice
• Specific investment evaluations and reviews
• Investment decision support and financial modelling
• Financial risk management
• Corporate covenant reviews

Case Studies

IIA were commissioned by J.P. Morgan Asset Management to prepare a briefing note for insurance company CIOs on the likely implications of Solvency II for their investment activities. The short form version of this note can be downloaded here. The full version of the report is available on request.

Undertook a strategy review for an investment manager that operates a money market fund complex. The review covered the following:

• Market background, investors & competitors
• Regulatory developments and issues arising
• Rating agency changes and implications
• Asset manager’s market position, sales & distribution capabilities and product economics
• Conclusions and recommendations

IIA was appointed to undertake a covenant review for the trustees of a major UK financial group's pension funds. This assignment was awarded to IIA after the trustees had reviewed proposals from two traditional pension fund advisory firms and another specialist advisor.

• We undertook a detailed analytical study of (a) the quality of the covenant, and (b) the quantity and volatility of the covenant exposure. This work enabled us to provide a number of recommended action points for the trustees.
• As part of the covenant review we identified a suite of market based and analytical Key Indicators in order to provide the trustees with an insight into the evolving status of the covenant for regular monitoring purposes.
• We were subsequently retained to advise the trustees on the mitigation of the covenant risk and possible implementation options around scheme funding and investment strategy. These options were used to inform discussions with the sponsoring employer.

Commissioned by a financial institution to produce a liability valuation model for their defined benefit pension scheme. The model was successfully back-tested to the last two full actuarial valuations and provided the scheme sponsor with an ability to analyse the risks and implied capital implications under ICAP Pillar 2 arising from changes in:

• Interest rates
• Inflation
• Longevity