Including: UK - Pensions Regulator survey results; CANADA - Caisse buys into Legacy Hotels; UK - Islington appoints AEIA; UK - LPFA appoints ING Real Estate
UK – Pensions Regulator survey results
The results of the second occupational pension scheme governance survey have revealed improvements in areas including trustee training, governance, the recruitment and retaining of trustees, and the management of conflicts of interest.
However, risk management, internal controls and the management of scheme administration were highlighted as areas which had seen little improvement.
CANADA – Caisse buys into Legacy Hotels
The Caisse de dépôt et placement du Québec is part of a consortium of investors which has agreed a C$12.60 per share offer for Legacy Hotels.
The all-cash transaction is valued at around $2.5bn, including debt.
UK – Islington appoints AEIA
The London Borough of Islington Pension Fund has appointed AllenbridgeEPIC Investment Advisers (AEIA) as an independent adviser.
One of the first things AEIA will be called upon to do in the role will be to assess the performance of the fund’s current investment managers.
UK – LPFA appoints ING Real Estate
London Pension Fund Authority (LPFA) has appointed ING Real Estate to manage a global real estate mandate worth £150m.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.