I am having trouble distinguishing between the Liability Relative Approaches mentioned in AA and the ones mentioned in FI.
AA refers to Surplus Optimization, Two Portfolio, Integrated A-L
FI refers to duration matching, Contingent Immunization, and Horizon Matching.
I understand each strategy is unique but aren’t they trying to accomplish the same thing? Unless I am missing something, it’s confusing they are mentioned in two different sections…