Dr. Marlene Puffer is a member of the Board of Trustees and she is Chair of the Asset-Liability Committee of the Hospitals of Ontario Pension Plan (HOOPP), one of Canada’s largest pension plans. The Asset-Liability Committee oversees all aspects of the leading-edge liability-driven investment strategy that makes extensive use of derivatives and alternative asset classes.
Dr. Puffer was Chief Strategist, Global Fixed Income at BCA Research. She provided independent macroeconomic analysis and fixed income investment strategy to top institutional clients worldwide. Paid subscribers to her weekly reports included the world’s top pension funds, money managers, trading desks and hedge funds. She recommended successful value-added portfolio strategies and specific trades, guiding investors through the European crisis, Japan’s monetary policy regime shift and extraordinary central bank intervention. Her team published a weekly bulletin and in-depth special reports with clear investment recommendations and trade ideas in major sovereign and credit markets. Special Reports included in-depth analysis of European vs. U.S. corporate credit markets, emerging market debt in the context of investment grade bond portfolios, and individual country/regional reports. Dr. Puffer travelled globally to meet with clients.
Since 1949, BCA Research has been one of the world’s top independent providers of global investment research and leading-edge market analysis.
Dr. Puffer created and implemented a Liability-Driven Investment strategy (LDI) for NAV CANADA’s $3Billion pension plan using derivatives. She was responsible for all aspects of investment management and asset mix for the pension fund. She restructured the real estate and equity portfolios. The strategy reduced the volatility of the plan’s solvency ratio and improved the risk profile of the pension fund. She worked closely with the Board, senior management, unions and the plan actuaries to develop a governance process for the pension plan including risk assessment, risk budgeting, optimization, and risk monitoring.
September 27-29, case 2009, Treasury Management Association Conference, Niagara Falls, Ontario.