Our Approach
For more than two decades, we have been delivering bespoke solutions to pension plans, both through direct relationships and via leading investment platforms.
We collaborate closely with pension plan sponsors, investment consultants and financial intermediaries to help achieve pension plan objectives.
Our team of specialists can help design and implement tailored solutions that balance multiple, sometimes competing, objectives and constraints, including risk/return preferences, liability‑hedging requirements, as well as solvency, accounting and funding considerations.
We believe that effective pension plan investing requires:
- A deep understanding of the complex environment in which pension plans operate
- An appreciation for the unique characteristics of each plan
- A broad set of investment capabilities that can deliver attractive risk‑adjusted returns aligned with each plan’s objectives and risk tolerance
- The capacity to offer customized reporting tailored to each plan’s needs
Key Benefits
Established Partners
Fiera Capital manages more than $36.6B in assets on behalf of 314 pension plans.
We have experience working with various plan types (including defined benefit pension plans, Jointly sponsored pension plans, multi-employer plans and supplemental executive retirement plans) offered by corporate and public sponsors.
Extensive Expertise
Pension plans and consultants benefit from the experience of seasoned pension investment professionals.
Our team of client-facing professionals includes portfolio managers, actuaries and solutions specialists with a deep understanding of the design and implementation of customized solutions for liability-aware clients.
Tailored Solutions for Pension Plans
There is no one-size-fits-all pension solution.
Fiera Capital provides innovative, tailored investment and risk‑management strategies designed to meet the unique needs of each pension plan, drawing on best‑in‑class market practices across all asset classes.
* As of June 30, 2026
Helping Pension Plans Achieve
Their Financial Objectives
Striking the Right Balance
Fiera Capital aims to deliver value to clients through a client-centric investment process.
We combine return objectives and risk tolerance with specific pension plan metrics such as interest rate hedge ratios and funded status volatility. This comprehensive approach ensures that assets are best aligned with our clients’ specific investment objectives and considerations. Objective examples include:
- Interest Rate Hedging
- Enhanced Portfolio Yields
- Dynamic De-Risking (Glide Path)
- Transition Portfolio for Annuity Purchase
| Liability Valuation | Solvency/ Wind-Up |
Accounting | Going Concern |
|---|---|---|---|
| Objective | Termination/liquidation value | Accounting for pension costs (financial statements) | Long-term funding (plan continues to exist) |
| Discount Rate | Retirees: Federal yield + spread (based on annuity pricing)
Actives: Federal yields |
High-quality corporate bonds yields | Expected rate of return on assets |
| Market Sensitivity | Sensitive to changes in rates & credit spreads | Depends on asset mix & discount rate setting approach | |
Not a “Set and Forget” Approach
Market conditions, financial situations and objectives evolve. Pension investment solutions should too.
Our investment process is dynamic, underpinned by a collaborative approach and close proximity to plan sponsors, consultants and financial intermediaries.
We have developed in-house tools, built and designed by experienced actuarial and investment professionals, which are at the core of our portfolio construction process. This framework enables us to remain flexible and responsive, adapting seamlessly to client needs and the evolving investment and regulatory landscape.
Our investment process
builds on three pillars:
Investment Objectives
& Considerations
Portfolio Construction
& Implementation
Ongoing Management
& Reporting
Dedicated Focus
on Our Clients
Our main objective is to build well-thought-out and pragmatic solutions based on the liability profiles and specific risk metrics of our pension clients.
Our professionals have always prioritized open dialogue and delivered a high-level of service through a dedicated team of pension specialists with deep knowledge of regulatory requirements and pension plan objectives.
We also provide tailored, transparent reporting for each client, designed around their specific needs and monitoring priorities.
Capabilities
Fiera’s pension solutions professionals have expertise in integrating other asset classes into the solution construction and allocation process.
The solution optimization process can incorporate metrics that are specific to pension plans, liability hedging objectives and the current market environment.
Fiera offers a broad spectrum of investment strategies across asset classes, styles and capitalization ranges, in addition to customized liability-driven and multi-asset class solutions for pension plans.
Fixed Income $71.4B*
Equity $69.8B*
Private Markets $22.3B*
* As of June 30, 2026
Additional Resources
Fiera Capital’s CIA Method
Accounting Discount Rate Curve
LDI Monitor
(Pension Plans)
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