Report
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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
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
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
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
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
Brunel hires CACEIS in governance role
Brunel Pension Partnership has appointed CACEIS to provide cost transparency and benchmarking services, in a three-year deal that will allow the pool to comply with the LGPS Transparency Code of Conduct by providing its 10 underlying funds with cost data analysis. CACEIS launched the UK’s first Pensions Transparency Dashboard in 2017 to provide schemes ...
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June, 2020
Schemes urged to rebalance portfolios
Pension schemes may need to rebalance their portfolios to ensure they meet their long-term strategic objectives, amid the market volatility, according to new analysis. According to research by Stamford Associates, schemes could find that their asset allocations may not reflect their risk/reward objectives going forward, following the severe equity and bond ...
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