Investment

M&G's real estate investment arm PRUPIM has completed the freehold purchase of Heathrow Terminal 5's Hilton hotel.

Unilever's scheme deficit rose by €500m in 2012 due to falling discount rates and a 33% fall in the value of its assets.

The National Employment Savings Trust has cut its allocation to conventional gilts across all 47 of its retirement date funds.

Institutional investors should "actively seek" to invest in the construction risk of infrastructure projects, according to a leading risk institute.

BNP Paribas Clean Energy Partners is to spin-off from the group and become Glennmont Partners.

Children's charity Barnardo's has announced it will close its defined benefit scheme ahead of auto-enrolment.

Pension Insurance Corporation has signed a second £30m bulk annuity deal with the Cookson Group Pension Plan, following its first buy-in in 2012.

The smallest occupational schemes will only have to send scheme returns to The Pensions Regulator once every five years under the draft pensions bill published today.

Community interest company Catalyst for Homes has launched a new property fund for pension schemes to invest in social and private housing.

Axa Real Estate has completed the £38m acquisition of two supermarkets for its newly-launched UK Long Lease Property fund.