Report
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December, 2018
Merseyside pension fund takes Smart approach to sustainability
The £9 billion Merseyside Pension Fund has invested £400 million in an index-tracking fund, with adaptions for climate change risks and risk factor exposures. The LGPS fund will use a smart sustainability index from FTSE Russell for the All World Equity Climate Balanced Multi-Factor Index subfund, which will be managed by State Street Global Advisors. ...
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December, 2018
Successful launch for Brunel ACS
Brunel Pension Partnership, the £30 billion LGPS asset pool for the south-west of England, has launched its authorised contractual scheme (ACS) with its first sub-fund, for actively managed UK equities worth approximately £1.6 billion. The active UK equity sub-fund will be managed by Aberdeen Standard Investments (ASI), Baillie Gifford and Invesco, ...
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December, 2018
Nottinghamshire selects property tracker fund
The Nottinghamshire County Council Pension Fund has given a £22 million mandate to Kames Capital for its commercial property tracker fund. The Kames Active Beta Property Fund is run solely for UK pension schemes and is believed to be the first property tracker fund of its type. It aims to enable investors to track property market returns, with carefully ...
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December, 2018
No deal Brexit could trigger 25% fall in UK stocks
A “no deal” Brexit could lead to a fall in UK equities of 23% and a 10% fall in European equities, according to analysis by index and investment data provider MSCI. MSCI came up with the findings following stress-testing using its risk management tool. It commented: “The UK has underperformed other regions in terms of GDP growth, as well as in the ...
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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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