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April, 2020
Covid-19 hikes deficits by £100 billion in week one
The market volatility caused by the outbreak of Covid-19 added £100 billion to the deficits of the UK’s defined benefit schemes in just one week, according to analysis by Hymans Robertson. The downturn in global equity markets had taken solvency deficits to around £500 billion and if the spread continues could cause a macroeconomic shock, which has ...
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April, 2020
Property funds shutter amid market turmoil
Seven asset managers have suspended trading in their property funds due to material uncertainty over the valuation of UK commercial property investments amid current economic turmoil. Investors in UK property funds run by Aviva Investors, Standard Life, Aberdeen, Columbia Threadneedle, Legal & General and BMO Global Asset Management have been prevented ...
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April, 2020
FCA delays DB transfer reforms
The Financial Conduct Authority has pushed back the implementation of its planned changes to the defined benefit transfer market by six months. The regulator had been expected to implement the reforms, which will include plans to ban contingent charging and introduce abridged advice, during the first quarter of this year. However, the FCA updated its ...
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April, 2020
Northumberland and Tyne and Wear schemes plan to merge
The government has launched a consultation on plans to combine the Northumberland County Council Pension Scheme into the Tyne and Wear scheme, in the hope of saving up to 12% in administrative and governance costs a year. The Ministry of Housing, Communities and Local Government said changes affecting the LGPS including the introduction of the career ...
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April, 2020
London CIV strengthens senior management key appointments
The London Collective Investment Vehicle (CIV) has made three appointments to its management team, aiming to strengthen its responsible investment resources. LCIV, one of the eight LGPS investment pools, has hired Jason Fletcher as chief investment officer, commencing in July. Fletcher joins after three years as chief investment officer at LPGS Central, ...
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April, 2020
TPR advises on Covid-19 contingency plans
The Pensions Regulator (TPR) has urged trustees to put appropriate monitoring and contingency plans in place to account for the financial risks of Covid-19 to their schemes. In a statement the regulator said it was “engaging with the pensions industry to understand the pressure it faces from Covid-19 and to help minimise any impact on ...
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April, 2020
Alternative investments: driving returns with active management
Alan Ross, Special Situations Portfolio Manager, ICG. Alan Ross of ICG discusses the benefits of active management in a time of market turbulence and the importance of selecting the right partner The active versus passive debate has raged for decades but in our view, severe market dislocations merit an active response. Necessary ingredients for ...
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April, 2020
London CIV unveils sustainable equity fund
The London Collective Investment Vehicle (LCIV) has launched its Sustainable Equity Exclusion Fund, seeded with £200 millon from the London Borough of Lambeth Pension Fund. The new fund sits alongside the existing LCIV Sustainable Equity Fund and offers pool members the opportunity to exclude investments in sectors such as fossil fuels, tobacco and ...
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April, 2020
Aon bids for rival Willis Towers Watson
Aon has agreed to buy peer Willis Towers Watson in an all-share tie-up valued at $30 billion, which combines the industry’s second and third largest insurance brokers. The announcement of the deal comes 12 months after Aon revealed it had dropped plans to pursue a bid for its nearest rival and follows Marsh & McLennan’s acquisition of Jardine Lloyd ...
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April, 2020
Why active beats passive for sustainable investing
James Mitchell, Client Director, Newton Investment Management. James Mitchell of Newton Investment Management sets out why he believes an active sustainable strategy can afford investors greater control over the positive outcomes they desire from their investments Interest in passive investing and sustainable investing continues to grow, and in some ...
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