News
Five stories you may have missed this week
This week’s top stories included Barnett Waddingham announcing nine new partner promotions, while three accounting bodies came together to publish Covid-19 guidance for the compilation of pension scheme accounts.
Brunel carbon footprint 7% lower than benchmark
The Brunel Pension Partnership has reduced the carbon intensity of its active portfolios by 7% compared their respective benchmarks, it has revealed today.
Law firm considers compensation claims against Link over Woodford collapse
Legal claims for compensation are being considered against the Woodford Equity Income fund's (WEIF) authorised corporate director (ACD) Link Fund Solutions, which is accused of early-stage failures in the fund's collapse, a failure to act in the best...
Woodford investors take Covid-19 hit as Link agrees £224m sale of healthcare assets
Link Fund Solutions (LFS) has agreed to sell "a significant portion" of the stricken LF Equity Income fund's holdings to US firm Acacia Research Corporation for up to £223.9m.
More than 700 adviser firms gave up pension transfer permissions during FCA probe
More than 700 adviser firms adviser firms have relinquished defined benefit (DB) transfer permissions during the regulator’s probe into the market.
FCA bans contingent charging on DB transfers
The Financial Conduct Authority (FCA) has banned the use of contingent charging in defined benefit (DB) transfer advice.
Market Movers Blog: ECB increases Covid-19 QE to €1.35bn
In this live blog, Professional Pensions' sister title Investment Week collates all the breaking market news, analysis and opinion on equity, bond and currency movements as well as the impact of trade wars, tightening monetary policy and the Brexit negotiations....
Active management edges out passive performance in Q1
Passive outperforms over five years
List: The biggest professional trustee firms in the UK
Professional Pensions is compiling a list of professional trustee firms and is looking for your help...
Coronavirus Blog: Will credit markets remain open for business?; Our economic recovery needs to be green
In this live blog, Professional Pensions brings together all the latest news on the industry's response to the coronavirus pandemic, as well as regulatory and legal updates.
DC pensions on the fastest trajectory to dormancy; Covid-19 to cause 48% increase
The impact of the coronavirus pandemic on the UK labour market will cause a significant increase in the number of dormant pension pots in 2020, with defined contribution (DC) schemes most affected.
Excess mortality rate drops to the lowest level since March
The number of excess deaths for week 21 of the year have been very similar to the number of Covid-19 related deaths for the first time since March, according to the Continuous Mortality Index (CMI).
Fidelity launches three new ESG ETFs
Fidelity International has launched three actively-managed ESG ETFs, further expanding the five-strong Sustainable Family range of funds it released in last September.
DB funding - May 2020: Gilts-plus funding position of DB schemes deteriorates by £30bn
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the May 2020 estimates on the various measures…
Barnett Waddingham announces nine new promotions to partner
Barnett Waddingham has promoted nine to partner level in response to growing client demand and to maintain market-leading service delivery for clients.
Accounting bodies release Covid-19 pension reporting guidance
Three accounting bodies have published specific Covid-19 guidance for the compilation of pension scheme accounts, recognising that “it can’t be business as usual”.
First Actuarial to provide admin services for Dolce scheme
The trustees of the Dolce Limited Retirement Benefits Scheme have selected First Actuarial to provide administration and actuarial services from this month.
RPMI Railpen backs Greencoat for energy plant acquisition
Asset manager Greencoat Capital has acquired the Lincolnshire-based Sleaford Renewable Energy Plant with funds from RPMI Railpen and Greencoat Renewable Income and commitments from UK corporate and Local Government Pension Scheme funds.
Transaction costs tally up to 37% of pension investment costs
Over a third of investment costs faced by pension savers come from transactions, according to the latest annual research from Caceis.
XPS tracker: Covid-19 deaths may have reached 50,000
A new tracker launched by XPS Pensions Group predicts Covid-19 related deaths for the UK are now at or close to 50,000.
Unomedical scheme completes £10m buyout with Aviva
The Unomedical Pension Plan has agreed to a £10m buyout of its 65 members’ liabilities with Aviva.
USS announces divestment from weapons, coal, and tobacco
Universities Superannuation Scheme (USS) will divest from tobacco, coal, and controversial weapons manufacturers following “years of demand” from members and recent protests on its overall commitment to climate action.
Employers to pay furloughed staff pension contributions from August
Employers will be required to pay a proportion of furloughed staff costs from August, Rishi Sunak has announced today.
