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Home > Library > Stable Times > Volume 3, Issue 2  The quarterly publication of the Stable Value Investment Association Second Quarter 1999 • Volume 3 Issue 2 Editor's CornerBy Karl Tourville, Managing Partner, Galliard Capital Management While the old Chinese adage "may you live in interesting times" is often cited and used to characterize this day and age, it nonetheless applies more today than perhaps at any time in history. The major secular trends of our times, globalization (and resulting consolidation), technology, and demographics have, and continue to exert a significant impact on our lives and professions. This issue of Stable Times reflects these dominant trends. It is wide ranging, and filled with current, in depth information and analysis of some of the major issues currently impacting the Stable Value industry. The issue leads with two pieces on consolidation in the financial services industry. Randy Myers joins us once again with an informative piece discussing how continued mergers and acquisitions is transforming the stable value marketplace for buyers and issuers. Donald Myers, a partner with Reed Smith Shaw & McClay LLP, complements Randy's piece with a discussion of the implications of consolidation from an ERISA perspective. Another theme of this issue is, not surprisingly, stable value on the Internet. We have a trio of articles relating to the impact and opportunities posed by the Internet. First, Judy Markland of Landmark strategies provides a compelling article on how web use has changed provider/customer relationships and thereby demonstrates the necessity for more participant oriented information on web sites. Nell Hennessy of ASA dovetails on Judy's piece with an examination of the benefits of web sites and the importance of making interactive tools with stable value included available to investors. The third installment is by John Milberg of Pacific Life who presents the results of the recent SVIA survey on electronic commerce. As you can guess, the article confirms what we all know by now - web commerce is here to stay. The issue is rounded out with articles from SVIA President Gina Mitchell, and Jon Fraade of AIG Financial Products. Gina's piece, which was penned for an upcoming issue of Profit Sharing Magazine, stresses the key role of stable value in diversified portfolios and the need for stable value to gain acceptance as an asset class distinct from bonds and money market funds. Jon discusses the application of stable value wraps for the Corporate-Owned Life Insurance (COLI) and Bank-Owned Life Insurance (BOLI) markets. If this isn't enough, you can also digest the results of the1998 SVIA-LIMRA Guaranteed/Stable Value Product Sales Survey which among other things reports that sales posted their largest increase in five years, to over $75 billion! So, enjoy the issue and continue to live in interesting (and stable) times!
STABLE TIMES
Stable Times is a benefit of SVIA membership.
Editor:
Editorial Board:
Stable Times is based on the best information and data available at the time of publication and is subject to change without notice. Opinions and views expressed in Stable Times are solely those of the authors and editors. Copyright 1999
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