
U103-B Filter
Materials:
Body: Aluminum(spray-painted)
Technical Specifications:
Working pressure:0.2Mpa
Filter accuracy:30um
Maximum flow rate:220L/min
Medium:gasoline,diesel
Features :
?96*142
M36*1.5
Package:
Product ID Net Weight Cross Weight Dimension
U103-B 18kg/case of35 19kg/case of35 50×28×35cm/case of35
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ion fund was so
high that the group s solvency could be at stake if things deteriorated.
It is too expensive to reduce long-term risks entirely, so the idea behind LDI is to focus on the big
risks and narrow the range of possible future outcomes, limiting the bad ones. LDI is a bit like a
hedging programme that zaps the negative effects of interest-rate and inflation risk. There is a
range of LDI strategies and structures. In a sense, Boots implemented an LDI programme, but
one using bonds rather than snazzier derivatives.
A long squeeze
One problem with LDI is the constraints on the supply of the instruments it uses, particularly when
a pension scheme needs to stretch at least 50 years into the future (which is the limit of long-term
swaps and bonds). Last year Merrill Lynch pointed out, for example, that Britain has some £700
billion of defined-benefit liabilit fuel dispenser ies, but a mere £7 billion of 35-year index-linked (ie, inflation-
proofed) government bonds. As more funds switch their attention to reducing risks, these supply
constraints are likely to worsen. In a recent technical squeeze in the market for 50-year gilts,
prices have risen so high that real yields have collapsed to historically low levels. This week, for
example, the latest auction of 50-year bonds was over fuel dispenser subscribed and offered a real yield of just
0.46%. Demand is coming from pension funds (and insurance companies) looking for very long-
dated investments, but also from investment banks seeking to hedge their own LDI-related
trading books.
LDI springs from the new actuarial thinking in that it puts the risks in a pension scheme in the
context of the sponsoring company s overall risk profile. But actuaries have begun to point out
that LDI is not the answer for every fund. Those with financially strong sponsors, or with sponsors
prepared to give pledges or guarantees to their funds, might have no need for a transaction that
can be fuel dispenser expensive. Moreover, a fund that locks in security at today s high bond prices might