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August, 2020
Brunel hits carbon reduction goals
Brunel Pensions Partnership has achieved its target to reduce the carbon intensity of its active portfolios by an annual 7% against their respective benchmarks. In its first responsible investment and stewardship outcome report, the local authority pool revealed that it had achieved its carbon reduction goal after developing a “five-point plan to build a ...
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August, 2020
Global equities stage second quarter rally
US and European equities posted a sharp recovery during the second quarter, buoyed by fiscal and monetary stimulus. The S&P 500 gained 21% during the three months to the end of June, as stimulus from the Federal Reserve and Congress, coupled with the relaxation of some Covid-19-driven economic restrictions, aided the market rebound. Volatility also ...
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August, 2020
Ex Bank of England governor takes up ESG and impact role
Former Bank of England governor, Mark Carney, has been appointed as vice chair and head of ESG and impact fund investing at Brookfield Asset Management, as part of plans to expand its ESG product range. Carney, who is currently the United Nations Special Envoy for Climate Action and Finance, will be tasked with developing a group of funds that will work to ...
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August, 2020
DB schemes lose £250 million on tax inefficient investments
UK defined benefit (DB) pension schemes are losing out on over £250 million of additional income per year in their global equity portfolios because they are investing via fund structures less tax efficient than are available, according to joint research from the Asset Management Exchange and Northern Trust. The study found that a total of £56 billion ...
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August, 2020
LPFA cuts carbon intense assets
The London Pension Fund Authority (LPFA) has reduced its exposure to fossil fuel dependent sectors to 2.5% of assets. In its first annual climate change policy review the LPFA revealed that the carbon intensity of the listed equities portfolio reduced by 4% compared to December 2018, with an emissions intensity 44% below the benchmark. The review was ...
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August, 2020
Longevity swaps to surge this year
The volume of longevity swap transactions is set to reach a record high this year, according to Towers Willis Watson, as reinsurers seek to compensate for an expected decline in bulk annuity deals. More than £25 billion in longevity swaps are expected in 2020, as pricing has become more attractive, meaning that in several cases schemes have been able to ...
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August, 2020
ASI launches ESG corporate bond fund
Aberdeen Standard Investments (ASI) has launched a global corporate bond fund focusing on companies demonstrating strong management of ESG issues. The Aberdeen Standard SICAV I – Global Corporate Bond Sustainable and Responsible Investment Fund will be managed by its global investment grade portfolio management team. It will exclude companies identified ...
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August, 2020
PLSA launches ESG guidance group
The Pensions and Lifetime Savings Association (PLSA) has launched an industry group to help produce guidance which will support schemes in getting to grips with the new 2020 Environment, Social and Governance (ESG) and stewardship reporting deadlines and duties. In 2018 and 2019, the Department for Work and Pensions made changes to the Occupational Pension ...
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June, 2020
PLSA Local Authority Conference: LA Live
Usually at this time of year 400 delegates gather at the Cotswolds Water Park in leafy Gloucestershire for the PLSA Local Authority Conference. There is always a strong sense of community as people who have met many times to share similar experiences and challenges get together to talk about the year’s big issues. This year, the LGPS ...
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June, 2020
Values versus valuations
James Sparshott, Head of Local Authorities, Legal & General Investment Management. Iancu Daramus, Senior Sustainability Analyst, Investment Stewardship, Legal & General Investment Management. James Sparshott and Iancu Daramus of Legal & General Investment Management discuss how the financial materiality of ESG issues may encourage more LGPS funds to ...
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