Pricing and Hedging Extreme Maturity Contracts

大多数澳大利亚人都参加了养老金计划。因此，这些投资的长期表现和风险对澳大利亚的福利尤为重要。这项研究将通过清楚地证明许多退休金目标可以用比目前建议的更少的资金来实现，从而改善澳大利亚人的终身财务安全。该项目将为提高养老基金、管理基金、投资银行和保险公司的长期业绩提供新技术，使这些澳大利亚机构具有竞争优势，并允许他们提供创新的金融产品，以减轻退休时的极端到期金融风险。

Most Australians belong to superannuation schemes. Hence, the long term performance and risk of these investments is of particular importance to the welfare of Australia. This research will improve the life-long financial security of Australians by clearly demonstrating that many superannuation targets can be achieved with less capital than currently suggested. This project will provide new technology for enhancing the long term performance of superannuation funds, managed funds, investment banks and insurance companies, giving these Australian institutions a competitive advantage and permitting them to offer innovative financial products to mitigate extreme maturity financial risk in retirement.