Investment

Pension Quality Mark (PQM) has reinforced the requirements for default investment strategies in a revised standards document published today.

The government has ruled out merging council pension funds in favour of promoting common investment vehicles for the Local Government Pension Scheme (LGPS), in an effort to save £660m annually.

The European Court of Justice (ECJ) has rejected attempts by the UK government to block the introduction of a financial transaction tax (FTT) in several countries.

The newly privatised Royal Mail has the best funded scheme on the FTSE 100 according to research from JLT.

The Merchant Navy Officers Pension Fund (MNOPF) is winding up its investment committee as part of an overhaul of its governance structure.

The FTSE Group has launched its first set of benchmark indices that exclude companies operating in the fossil fuels market, following warnings over the financial risk of climate change.

The Financial Conduct Authority (FCA) has fined Invesco Perpetual £18.6m for exposing investors to more risk than they had been led to expect in funds including Neil Woodford's giant income portfolios.

The Pirelli Common Investment Fund (Pirelli CIF) has appointed Buck Global Investment Advisors (BGIA) to monitor and evaluate its fiduciary management arrangements.

Standard Life Investments and F&C Investments voted against Barclays' remuneration report at the bank's 2014 annual general meeting (AGM), as 34% of shareholders opposed its pay packages.

How European regulation could affect scheme investments