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August, 2014
Gilts ETP to give triple exposure
Exchange-traded product (ETP) specialist Boost has launched a three times short fixed income ETP to track the returns from UK 10-year Gilts but with three times any rise or fall in the underlying asset class. The new ETP is designed to meet a large increase demand for short exposure to fixed income when interest rates start to rise. Boost said that ...
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August, 2014
LCP launches 21st annual Pensions report
Pension contributions from FTSE 100 companies fell in 2013 after many years of steady increases, according to the 21st annual Accounting for Pensions report from consultants LCP. It said that growth in additional security for pensions in the form of guarantees, pledges or charges over assets by FTSE 100 companies partly explains a fall in cash ...
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August, 2014
LPFA to check employer covenants on sector-wide basis
The London Pension Fund Authority (LPFA) is working on new sector-wide covenant checks for colleges and universities with further consultation planned for charities and housing associations in the coming months. The LPFA said that understanding the strength of employer covenants is important for local government pension funds, in order to avoid insolvent ...
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August, 2014
Bank of England looks at pension fund procyclicality
The Bank of England’s Procyclicality Working Group, which consists of various pension and investment experts under the chairmanship of Andrew Haldane, has published a discussion paper on procyclical behaviour by pension funds and insurance companies. The paper looks at trends in long-term investing by pension funds and insurers, and whether they ...
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August, 2014
Active value opportunities in secondary property
Phil Clark, Head of Property Investment, Kames Capital. Phil Clark, Kames Capital’s Head of Property Investment, shares his view of the UK commercial property market and the opportunities for local authority pension funds What is your view on the UK economy recovery? The gathering pace of the economic recovery in the UK has seen unemployment fall, a ...
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August, 2014
NEST updates its investment principles
NEST has updated its statement of investment principles (SIP) based on evidence and its experiences from the last three years. The principles are the framework for NEST’s approach to how it manages its members’ money. NEST feels that investment decisions should take long-term valuations into account, which it said means that it will move away from ...
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August, 2014
What this year’s M&A boom means for credit
Andrew Swan, Director of Fixed Income, M&G. Richard Ryan, Senior Fund Manager, M&G. Dan Gardner, Senior Fund Manager, M&G. With new mergers and acquisitions (M&A) activity at its highest since 2007, Andrew Swan asked senior fixed income fund managers Dan Gardner and Richard Ryan, who manage M&G’s leveraged loan and multi-credit portfolios ...
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August, 2014
Infrastructure debt – the new “I” in LDI
Nicola Beretta Covacivich, Head of Infrastructure Debt, ECM. Infrastructure debt provides an opportunity to invest in non-correlated real assets with an attractive risk/return profile. Nicola Beretta Covacivich of ECM explains more Investing in infrastructure debt – vital facilities such as hospitals, airports, roads, water & renewable energy ...
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August, 2014
Investors to grow alternative assets teams
A survey by alternative assets data provider Preqin has found that 28% of institutional investors expect to increase their alternative assets teams within the next two years. Preqin head of real assets products, Andrew Moylan, said: “Many investors have indicated to Preqin that they intend to increase their allocations to alternatives, and make greater ...
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August, 2014
Bypassing the middle man – opportunities in direct lending
Tom Sargeant, Director, Investor Relations, Sankaty Advisors. Tom Sargeant of Sankaty Advisors outlines the attractions of private debt for pension funds and the illiquidity premium that can be captured through direct lending to middle market companies Large corporates across developed markets have steadily regained their access to public markets for ...
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