Losses at airport operator BAA have tripled in the first six months of the year, partly due to a growing defined benefit scheme deficit, its results show.
The company, which runs Heathrow, Gatwick and Stansted, posted pre-tax losses of £525.7m in the first six months of 2009. Losses a year ago stood at £135.3m. The results said pre-tax exceptional charges...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.