Investment
Scottish Widows updates stewardship policy in bid to drive positive change
Scottish Widows has unveiled an updated stewardship policy detailing how it will undertake stewardship and engagement activity in support of its responsible investment framework.
Tyne & Wear fund allocates £650m to LGIM sustainable fund range
The Tyne & Wear Pension Fund has invested £650m in the Future World index equity fund range in a bid to up its generation of sustainable returns for members.
DB funding - June 2020: Deficits grow further in Covid-19 markets
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the June 2020 estimates on the various measures…
DB schemes losing up to £250m a year due to tax-inefficient funds
UK defined benefit (DB) schemes lose up to £250m a year due to less tax-efficient funds, according to research by the Asset Management Exchange (AMX) and Northern Trust.
RPMI Railpen and Wrenbridge secure London development consent
RPMI Railpen and Wrenbridge have secured planning consent for a major London warehouse development.
WTW: One-in-five schemes considering superfunds
One-in-ten defined benefit (DB) schemes have already discussed the option of superfund consolidation as a target endgame while a further 9% are planning to do so shortly, according to Willis Towers Watson (WTW).
Government suffers defeats in House of Lords over Pension Schemes Bill
Amendments to the Pension Schemes Bill passed by peers in the House of Lords last night will see a wide-ranging suite of reforms for the pensions industry draw another step closer.
Comic relief founder launches campaign to shift £3trn of pension assets into sustainable investments
Film producer Richard Curtis - also co-founder of Comic Relief - has launched a campaign to help make the UK’s £3trn of pension assets more sustainable and ensure it is invested in building a better world after the coronavirus pandemic.
A climate for engagement
Newton Investment Management's Lloyd McAllister looks at how an active approach could help DC schemes to tackle climate change
Context clarity: Understanding your journey to full funding
Marian Elliott looks at the three questions trustees should ask to understand the route to endgame.
PGIM Investments launches global corporate ESG bond fund
PGIM Investments has launched a global corporate ESG fund, which will be “the first of a newly-created suite” of PGIM Fixed Income’s ESG UCITS strategies available to investors outside of the US.
Covid-19 likely to push DC schemes into master trusts
The economic uncertainty generated by Covid-19 is likely to cause a large number of defined contribution (DC) schemes to move into master trusts, according to PP readers.
Transfer figures soar as £10bn leaves DB schemes in three months
Close to £10bn was transferred out of defined benefit (DB) pension schemes in the last quarter of 2019, according to figures from the Office for National Statistics (ONS).
Industry Voice: "A Fetish for Liquidity"
Professional Pensions spoke to Natixis Investment Managers about a recent survey of over 60 defined contribution (DC) plans in the UK which found that many DC schemes have both the liquidity and the positive intention to invest in illiquid assets.
Covid-19 widens FTSE 350 DB funding gap
FTSE 350 companies with defined benefit (DB) pension schemes have been hit particularly hard by the economic crisis caused by Covid-19, latest research from Barnett Waddingham shows.
Schemes and insurers pile £2.7bn into Macquarie infrastructure debt fund
A range of predominantly UK corporate pension schemes, local authority funds and insurance companies have committed £2.7bn to the latest fundraising round for Macquarie infrastructure debt strategy, Macquarie Infrastructure Debt Investment Solutions (MIDIS)....
Schemes on the hunt to maximise GMP conversion benefits
Red tape preventing pension schemes from managing the barriers around GMP equalisation is leading to many combining conversion with pension increase exercises (PIE), Aon says.
Lothian fund adopts statement of responsible investment principles
The Lothian Pension Fund (LPF) has published a statement of responsible investment principles with a focus on incorporating ESG issues into analysis and decision-making, while also committing to report on activities and progress.
Market Movers Blog: Dividend limits and no buybacks - Fed
In this live blog, Professional Pensions' sister title Investment Week collates all the breaking market news, analysis and opinion on equity, bond and currency movements as well as the impact of trade wars, tightening monetary policy and the Brexit negotiations....
Superfund risk called into question by Bank of England governor
Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).
FCA launches workplace pensions value for money consultation
The Financial Conduct Authority (FCA) will bring forward proposals designed to promote value for money for workplace pension schemes members, a consultation paper says.
Industry Voice: When coupons are king: the case for global high-yield credit
High-yield bonds were particularly affected during the March sell-off, and the asset class is still trading at attractive valuations. At a time when listed companies are cutting dividends, we believe that high yield’s income-generating qualities means that it has the potential to deliver superior risk-adjusted returns earlier on in the market’s recovery.
PPF and TPR to be given key role in corporate restructures
The government has amended its Corporate Governance and Insolvency Bill to give the Pension Protection Fund (PPF) and The Pensions Regulator (TPR) a greater role in corporate restructurings.
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