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June, 2020
Welsh pool hires oversight adviser
The Wales Pension Partnership (WPP), made up of eight Welsh LGPS, has appointed Hymans Robertson as its oversight adviser, which will see the firm provide oversight and advice on governance arrangements, operator services, strategic investment aspects and project management support. The contract is for an initial three years with the potential for a ...
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June, 2020
Shell cuts dividend as demand forecast plummets
Royal Dutch Shell shocked investors by cutting its dividend for the first time since the Second World War, citing the weaker oil price and uncertain future demand. Shell announced it would be rebasing the first quarter dividend to 16 cents a share, down two-thirds on the same quarter the prior year. The oil major was the single largest dividend payer in ...
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June, 2020
The risks of AGMs held behind closed doors
Two thirds of FTSE 100 constituents have conducted their annual general meetings behind closed doors since the outbreak of the Covid-19, sparking concerns about shareholder rights. Responsible investment campaign group ShareAction has written to FTSE 100 chairs urging them to carry out a virtual AGM this year, allowing for real-time questioning followed by ...
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June, 2020
LGPS duo urge Barclays to firm up climate pledges
Two local government pension scheme investors have announced plans to back a shareholder resolution aimed at forcing Barclays to align with the Paris Climate Change Agreement. Brunel Pension Partnership and Merseyside Pension Fund will vote in favour of a resolution put forward by ShareAction calling for the lender to set and disclose targets to phase out ...
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June, 2020
Gold volatility rises amid Covid-19 outbreak
Investors using gold to hedge against falling equity values must be willing to accept greater volatility than may have been assumed, according to research by consultancy Mercer. While gold returns held up well during the first quarter at 6%, fluctuations in the value of the metal have increased enormously since mid-February when markets began to respond to ...
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June, 2020
Border to Coast launches fixed income fund
Border to Coast Pensions Partnership has launched its first fixed income product, providing partner funds with access to the investment-grade credit market. The £2.5 billion Sterling Investment Grade Credit Fund will focus on sterling-denominated bonds issued by a variety of global companies. M&G, Royal London Asset Management and Insight Investment ...
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June, 2020
Bonds: ESG into action
Scott Mather, CIO US Core Strategies, PIMCO. The current global health crisis underscores the importance of tapping capital markets to drive more sustainable development. PIMCO's Scott Mather explains how the power of active engagement with bond issuers can move ESG from mere rhetoric into action The current global health crisis underscores the ...
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June, 2020
Global equity markets whipsaw but there may be opportunities
Emma Powell, LAPF Investments. Emma Powell considers the fluctuations in global equity markets and shares the views of some practitioners that, despite the current uncertainties, the importance of ESG considerations may boost investment opportunities In March, equity indices around the world entered bear market territory as investors braced for the ...
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June, 2020
Border to Coast issues China mandate
Border to Coast is looking to appoint a specialist China equity manager to add to its existing emerging market equity fund. The fund, which is currently managed entirely internally, is expected to allocate around a third of its assets to the China manager, a mandate equivalent to between £200-300 million. Following consultation with its partner funds, ...
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June, 2020
Invesco rings the changes
Mark Barnett, a former protégé of UK stock-picker Neil Woodford, has left Invesco, following a review of the UK equity product portfolio. Ciaran Mallon and James Goldstone will take over as co-managers of the open-ended funds Barnett was responsible for. Martin Walker will continue as head of UK equities and will manage the Perpetual Income and Growth ...
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