BlackRock has been chosen to run nearly £2.8bn of passive assets by the eight Local Government Pension Schemes (LGPS) known collectively as the Welsh Funds.
There are currently eight LGPS schemes in Welsh Funds with combined assets under management of over £11bn. BlackRock's appointment comes after Welsh Funds decided to combine around 20 passive mandates...
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.