Report
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December, 2018
UK final salary pension scheme funding drops below 100% in December
The aggregate funding level for UK final salary pension schemes in the corporate sector dropped from 101% to 98% in December, as measured by the Pension Protection Fund’s 7800 index. Commenting on the drop, Aviva Investors investment strategist, global investment solution, Boris Mikhailov, commented: “There was not much to celebrate for pension schemes ...
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December, 2018
Brunel develops Accord for long-term manager relationships
Brunel Pension Partnership, the £30 billion LGPS asset pool, has launched an Asset Management Accord, which it intends to facilitate long-term relationships with its appointed managers. Brunel PP chief investment officer, Mark Mansley, commented: “The idea is that by putting this document together, we can address managers’ key concerns and help ...
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December, 2018
CMA announces measures to reform investment consulting
Following an investigation, the Competition and Markets Authority (CMA) has announced a series of measures to improve competition in the investment consulting and fiduciary management sector. Some of the leading investment consultants offer fiduciary management, which means that pension funds delegate much of their investment management to the fiduciary ...
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December, 2018
UBS and Dutch fund APG create Japanese multi-family real estate investment club
The major Dutch pension fund manager, APG, has joined forces with Swiss asset manager UBS to set up a new Japanese multi-family real estate investment club. APG has made an initial commitment of $175 million as a founding partner. Both partners believe that there are strong, underlying fundations in certain Japanese residential markets, due to strong ...
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October, 2018
New research points to benefits of emerging market debt
Most pension funds are underweight emerging market debt and could benefit from a higher allocation, according to new research from the Sloan School of Management at Massachusetts Institute of Technology (MIT). The research found that the optimal allocation to emerging market debt is 8% to 35% of a fixed income allocation in a rising rate environment. ...
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October, 2018
LGPS Central appoints Hermes EOS for voting service
The LGPS Central asset pool has hired Hermes EOS, part of Hermes Investment Management, to provide it with voting and engagement services. LGPS Central represents nine underlying local authority pension funds with assets of approximately £40 billion and over 900,000 members. LGPS Central director of responsible investment and engagement, Michael ...
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October, 2018
Transaction costs material for pension funds
Transaction costs make up an average of 24% of investment fees and costs paid by large pension funds, according to research by CEM Benchmarking. The research was conducted among some of the world’s largest and most sophisticated pension funds and sovereign wealth funds. It found that base manager fees are 49% of total costs and performance fees are 24% ...
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October, 2018
LAPF Investments Awards 2018
Over 200 people from local government pension funds, consultants and asset managers were at London’s Savoy Hotel to see BBC star newsreader Fiona Bruce present this year’s LAPF Investment Awards. One of the highlights and the most emotional moment of the evening was the Judges’ Award to the late Kieran Quinn, who passed away unexpectedly on ...
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October, 2018
Border to Coast hires three managers for UK Alpha Equity Fund
The £46 billion Border to Coast Pensions Partnership has announced the appointment of three external asset managers – Baillie Gifford, Janus Henderson and UBS Asset Management – for a UK equity fund. Border to Coast said that the UK listed equity alpha fund could total £1.2 billion at launch. The appointments followed an extensive manager selection ...
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October, 2018
Merseyside selects new sustainability index
The £9 billion Merseyside Pension Fund has decided to use a new “smart sustainability”, multi-factor climate index from FTSE Russell within its listed equity portfolio. Merseyside said it chose the index as it would help with the implementation of its climate risk strategy within its listed equity portfolio. Merseyside Pension Fund investment ...
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