Report
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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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June, 2020
Investors call for responsible management
Local Pensions Partnership has joined with 307 institutional investors to urge companies to consider the welfare of all stakeholders amid the Covid-19 pandemic. In the Investor Statement on Coronavirus Response, long-term investors called on companies to protect workers by making emergency paid leave available to all employees, including temporary, ...
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June, 2020
Covid-19 causes transfer value volatility
Market volatility in the wake of the Covid-19 outbreak has resulted in substantial fluctuations in the value of defined benefit pension schemes, making it more difficult for members considering a transfer. Defined benefit transfer values fell 3% during March, according to consultancy XPS Pensions. However, that decline masks more dramatic swings in ...
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June, 2020
RPI reform delayed
The government has extended the deadline for the consultation on reforming the retail price index, to give businesses dealing with the repercussions of the Covid-19 outbreak more time to respond. Chancellor Rishi Sunak wrote to the chair of the UK Statistics Authority, Sir David Norgrove, informing him that the consultation would close for responses on 21 ...
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June, 2020
ESG funds outperform amid market downturn
Funds with environmental, social and governance criteria have outperformed the broader market during the Covid-19 crisis, according to research by S&P Global. The index provider analysed 17 exchange-traded and mutual funds with over $250 million in assets under management that select stocks for investment based partly on ESG themes. Among those funds, 12 ...
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June, 2020
PLSA urges company oversight of Covid-19 response
The Pensions and Lifetime Savings Association has called on schemes to put companies on watch over how they respond to the Covid-19 pandemic. While most companies have generally acted responsibly in the face of the challenges posed by the coronavirus the PLSA said, it was mindful that some firms nationwide are laying off or furloughing members of staff in ...
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June, 2020
Lothian reveals ESG targets
Lothian Pension Fund has unveiled a target to measure 100% of its equities for carbon intensity within three years as part of broader plans to embed ESG considerations into its investment processes. The scheme, which has around £8 billion in assets and is the second largest in Scotland, issued the proposal as part of its operating plan for 2020/21. The ...
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April, 2020
Covid-19 hikes deficits by £100 billion in week one
The market volatility caused by the outbreak of Covid-19 added £100 billion to the deficits of the UK’s defined benefit schemes in just one week, according to analysis by Hymans Robertson. The downturn in global equity markets had taken solvency deficits to around £500 billion and if the spread continues could cause a macroeconomic shock, which has ...
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April, 2020
FCA delays DB transfer reforms
The Financial Conduct Authority has pushed back the implementation of its planned changes to the defined benefit transfer market by six months. The regulator had been expected to implement the reforms, which will include plans to ban contingent charging and introduce abridged advice, during the first quarter of this year. However, the FCA updated its ...
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