Hidden Cost of Mismatching Duration
PGIM Fixed Income highlights why mismatching pension liability duration is not a costless bet on rising interest rates.
Erik Schiller, CFA, is a Managing Director and Head of Liquidity. Mr. Schiller is responsible for developed market rates for PGIM Fixed Income's Multi-Sector and Liquidity Team, specializing in government securities, futures, interest rate swaps/derivatives, and agency debentures. Mr. Schiller holds a senior portfolio management role where he develops portfolio strategy, performs quantitative analysis, and designs and implements risk positions within the liquidity relative value strategy portfolios, multi-sector fixed income portfolios, liability-driven portfolios, and government securities focused mutual funds. In addition, he has oversight of agency mortgages for the firm. Formerly, Mr. Schiller was a Vice President for PGIM Fixed Income's U.S. Liquidity Sector Team, and previously a hedge fund analyst within the Portfolio Analysis Group. Mr. Schiller joined the Firm in 2000 as an operations associate in the mortgage-backed securities group. He received a BA with high honors in Economics from Hobart College and holds the Chartered Financial Analyst (CFA) designation.
All information as of June 30, 2020.