UK - The Greater Manchester Pension Fund's net assets have soared by more than £1.6bn to £6.65bn since last March, new figures show.
And Britain’s largest local authority fund said it has enjoyed increased returns of 3% during the past two years – despite a general market downslide.
Fund chairman Roy Oldham, leader of Tameside Council, said a “prudent investment strategy” and hands-on management tactics had helped achieve the strong performance.
He added: “The fund has won many awards, but the bottom line is the security it delivers to local pensioners who have retired from their council and this is achieved at a relatively low cost to employers. The fund also invests successfully in the local economy.”
Oldham said returns had also been bolstered by the scheme’s relatively high property allocation – particularly its investment in the Greater Manchester Property Venture Fund, to which recent investments have included the former Manchester skin hospital and Quay Street redevelopment.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.