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.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point