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Risk management in practice

As a global leader in risk management, Milliman challenged itself to find solutions that helped everyday investors better manage their retirement savings.

We asked ourselves how our decades of experience in managing risk for almost every major insurance company globally could be applied to investments. It wasn’t a case of “building a faster horse”, but rather re-imagining investment risk management with the end goal – a better retirement for Australians – our single focus.

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In response, we created the Milliman Managed Risk Funds and Even Keel.

Our strategies help ensure retirees and pre-retirees do not feel the devastating impact of major market falls occurring at the worst possible times and participate in equities market growth.

Our philosophy

The Milliman managed risk investment philosophy is defined by four core beliefs:

  1. Investors need exposure to growth assets to fund a dignified retirement
  2. Diversification alone is not enough to avoid the effects of a market crash
  3. Investment solutions, particularly for retirees and those approaching retirement must consider human behaviour in their design
  4. Risk management should be explicit and implemented in a robust, transparent and cost-effective manner that isn’t reliant on discretionary bets.

Our process

Milliman Managed Risk FundsTM and the Even KeelTM overlay are driven by a mathematical rules-based strategy implemented through a systematic investment process. Milliman’s traders monitor, execute and provide the human oversight to this process 24 hours a day across our three trading centres in Sydney, Chicago and London. By ensuring the process is systematic and the strategy is rules-based, we are able to remove human biases from investment decision-making yet it is sense-checked by the trading team. 

Milliman Managed Risk Funds

Milliman Managed Risk Funds

Invest in our managed risk funds to protect your clients from market drawdowns while participating in market growth.

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Even Keel

Even Keel

The Even Keel overlays equity portfolios and can be turned on and off as investors’ risk appetite and market views change.

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Access Milliman’s funds and overlay through our various partners

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Milliman's Managed Risk Funds

Managed Risk Australian Share Fund

Milliman’s Managed Risk Australian Share Fund takes a different approach to risk management. The Fund uses hedge assets (typically exchange-traded futures contracts) that act independently of the underlying portfolio to help foster growth in bull markets while defending against losses in down markets.

Fund Overview    Monthly Fund Update

Managed Risk Global Share Fund

Milliman’s Managed Risk Global Share Fund offers clients access to long-term capital growth through exposure to equity markets, while simultaneously providing downside protection against market volatility. The Fund’s futures positions are adjusted daily, subject to market-based threshold.

Fund Overview   Monthly Fund Update

Multi-Index High Growth Fund

Milliman’s Multi-Index High Growth Fund offers clients access to long-term capital growth through exposure to equity markets and a diversified portfolio of shares, property and infrastructure, while simultaneously providing downside protection against market volatility.

Fund Overview   Monthly Fund Update

Watch our short video describing the challenges facing retirees and how Milliman’s solutions help protect your clients.

Products that support your clients

The Even Keel story
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