UK - Nearly half of the investments made on behalf of the Privy Purse Private Estates Pension Fund fail ethical tests, research by financial website Citywire claims.
Out of 42 shares that the fund holds, 23 fail one or more ethical investing criteria – with large investments being held in British American Tobacco, British Petroleum and GlaxoSmithKline. The scheme also has investments in GKN – a company that makes parts for military aircraft.
Schroders manages the fund on behalf of the scheme which provides pensions for royal butlers, footmen, cooks and gardeners.
By Jonathan Stapleton
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers