Inflation Risks and Products: The Complete Guide explains in detail both the connection of financial instruments with inflation risk, and what are the opportunities in the inflation-linked products today and their strategic application in the future. This multi-contributor book allows you to learn from the sector's foremost experts from investment banks, asset management, hedge funds, debt management, insurance, pension funds and risk management consulting.

Presenting you with solid, practical guidance and illustrated with global case studies, Inflation Risks and Products will help you to improve your investment and hedging strategies and gain a clear understanding of:

* the complex relationship between inflation and inflation related products like property derivatives and infrastructure asset and commodities;
* the products and the development of the fast growing inflation market;
* how to overcome the challenges of modelling and pricing innovative structured and derivatives inflation products;
* trading strategies;
* the latest investment opportunities for hedge funds and asset and liability managers;
* the benefits of inflation-linked products for sovereign and corporate issuers.

This is essential reading for product structurers, inflation traders, corporate and financial institution treasurers, hedge fund managers, pension funds, asset and liability managers, securitisation professionals and accounting professionals.

SECTION 1: THE GLOBAL INFLATION-LINKED BOND MARKET

Chapter 1
Investment Strategies: The Approach of an Inflation Benchmarked-investor
Jamil Bas, John Brynjolfsson

Chapter 2
Inflation-linked Markets and Monetary Policy
Cedric Scholtes

Chapter 3
Real Estate Derivatives: A Proxy for Inflation
Tarik Senhaji

Chapter 4
Inflation and Commodities
Michael Ashton; Bob Greer

Chapter 5
Hedging Inflation with Infrastructure Assets
Valdimar Armann; Mark A. Weisdorf

SECTION 2: INFLATION-LINKED BONDS

Chapter 6
The Global Inflation-linked Market
Seamus Brown; Raoul Salomon

Chapter 7
Inflation-linked Bonds for the Total-return Investor
Brian Weinstein, Adam Bowman, Stuart Spodek

Chapter 8
Special aspects of Japanese Inflation-linked Bonds
Hidesada Taki

Chapter 9
The Australian Inflation Market
Sam Mitchell, Gary Vassallo

Chapter 10
Emerging Markets Inflation
Koon Chow, Ralph Segreti

Chapter 11
Inflation Derivatives
Herve Cros, Brice Benaben

Chapter 12
Inflation and Credit Asset Swaps and the Real Price for Corporate Linkers
Sebastien Goldenberg

Chapter 13
Building the forward CPI Curves and Pricing Simple Structure
Stephane Salas; Borut Miklavcic

Chapter 14
Modelling Inflation
Fabio Mercurio; Yildiray Yildirim

Chapter 15
Inflation-linked Options
Brice Benaben; Nicolas Tabardel

SECTION 3: INFLATION IN PENSION FUNDS AND INSURANCE COMPANIES

Chapter 16
An Overview of Inflation Risk within Pension Funds and Insurance Companies
Joe Hamilton; Stuart Jarvis

Chapter 17
Liability-Driven Investing and Inflation: Theory and Practice
Markus Aakko; Bob Litterman

Chapter 18
Hedging Conditional Indexation Risk
Vincent van Antwerpen, Huub van Capelleveen, Peter den Iseger and Bart Oldenkamp

Chapter 19
Life Insurance and Inflation Risk
Erwan Boscher; Paul Canty

Chapter 20
P&C Inflation and Inflation Risk
Michael Ege; David Bieber

SECTION 4: INFLATION "PAYERS"

Chapter 21
Liability Management with Inflation-linked Products: UK and Canada Approaches
Myrvin L Anthony; Arnaud Mares; David Bolder; Nicolas Sagnes

Chapter 22
Liability Management with Inflation-linked Products: The Cases of Sweden and France
Lars Horngren, Erik Zetterstrom; Jean-Paul Renne; Nicolas Sagnes

Chapter 23
Liability Management with Inflation Products: Utilities’ Prospects
Baptiste Janiaud; P. Hinkel

Chapter 24
An Historical Perspective on Issuing Index-linked Gilts and Launching Ultra-long Bonds
Mark Deacon, James Knight

Chapter 25
Corporate and Infrastructure-backed Inflation-linked Bonds
Daragh McDevitt; John Kirwan

NB. This table of contents is provisional and is subject to change

Brice Benaben is currently a Managing Director and Global Head of Inflation at Deutsche Bank. In the past he was the global head of inflation structuring at ABN AMRO. His team was structuring a wide range of inflation-linked products and innovative solutions for hedge funds, pension funds, corporates, financial institutions, and project finances both in Europe and the USA. He was initially involved in linkers trading as a portfolio manager in the International Finance Corporation (World Bank group) in Washington DC. Then, as head of fixed income and portfolio strategies in Crédit Agricole Indosuez (Calyon), he worked with sophisticated investors on risk budgeting frameworks, focusing particularly on inflation strategies within fixed income portfolios. He also advised major European sovereign issuers on various debt management issues; this includes optimising the funding strategies for debt portfolio, mixing nominal and inflation-linked bonds with risk-adjusted cost quantitative models.
Brice speaks regularly at conferences and has co-written various papers on asset management and debt management with inflation-linked products. Brice is a graduate of Oxford University, where he studied applied mathematics.

Sébastien Goldenberg is Managing Director and Global Head of Inflation-Linked Products at Citi.His teams are trading all inflation-linked bonds, swaps and options and exotics across the globe.He has more than nine years experience in the inflation market, having worked as global head of trading for inflation products at ABN AMRO and having been in charge of inflation trading at Crédit Agricole Indosuez in Paris (CALYON). Sébastien a holds Masters degree in applied mathematics and finance from Université Paris Dauphine and from the French business school, ESSEC.