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Enel KPI miss ‘a watershed moment’ for sustainability-linked bond market
Price reaction was swift, with the affected SLBs outperforming unaffected Enel instruments by 0.59% on average
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Fiduciary managers’ growth portfolios underperform their target returns
XPS survey finds that majority of fiduciary managers’ growth portfolios underperformed their target returns by 3% or more
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Small DB schemes unlikely to run on beyond buyout funding level due to costs
Hymans Robertson finds that the cost of running a small DB scheme is four times the cost of running a large scheme
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Article 9 funds outflows continue amid ongoing regulatory uncertainty
Assets in Article 8 funds grew over Q1 2024, while Article 9 funds saw almost €4bn in outflows, according to Morningstar
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Fiera Capital makes Benelux, Nordics move
Jeroen van Rooij is appointed to the newly-created role of head of Benelux and Nordics distribution
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Denmark’s PFA offloads €160m Shell holding after goal weakening
Bessing says still believes Shell better positioned for green transition than vast majority of oil and gas companies
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LGPS funding level increases to 106% ahead of next actuarial valuation
LGPS funding level improved from 67% at 31 March 2022 to 106% as at 31 March 2024
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German finance minister calls pension funds to invest in domestic growth
Germany needs another Future Financing Act law to mobilise private capital, says finance minister Christian Lindner
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The People’s Pension expects ‘adequate’ stewardship resourcing from managers
The People’s Pension has strengthened the expectations of its investment managers in its new responsible investment policy
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Pensions Dashboard Programme to launch user testing and planning group
PDP highlighted that there is a need to robustly test dashboards as they develop
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Dutch funds risk €18bn bill if pension transition called off, says PwC
Dutch pension funds would have to shoulder the cost of running expensive legacy DB systems for decades to come, the accountant warns
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Deka Immobilien sells Coty’s Headquarters in Paris
Deka Immobilien has sold the office building Opéra Gramont, located at 14 rue du Quatre Septembre in Paris for approximately 107 million euros. The property was part of the WestInvest ImmoValue portfolio, an investment fund designed for institutional investors, and was acquired by Osae Partners on behalf of one of its discretionary funds.
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GARBE Industrial Real Estate Establishes New “Light Industrial” Business Line
GARBE Industrial Real Estate (“GARBE”), one of the leading specialists for logistics and industrial properties in Germany and elsewhere in Europe, actively continues its strategic expansion, and is establishing another business line, “Light Industrial”. The “IndustrialQuarter” brand already established by GARBE, which has so far focused on the new-build segment, will be expanded in the context of the new business line to include existing properties belonging in this segment.
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AP4 resets long-term scenarios amid US trade worries
Swedish pensions buffer fund CEO sees political environment remaining problematic for years
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Fondo Gomma Plastica to create equity mandate investing in Italy
The scheme is working on the equity mandate with other pension funds joining as part of a consortium
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Varma assets jump to historic high of €60.9bn with 3.6% Q1 returns
Plus: Ilmarinen reports a 3.2% Q1 return, while Keva posts 3.7%
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ISSB to tackle biodiversity reporting, human capital disclosures
Chair Emmanuel Faber says the board’s focus remains on the informational needs of investors and the allocation of capital
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Swiss pension funds hold onto private equity investments
Schemes stick to strategic quotas, pushing back on government plans to support local economy
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Viewpoint: Trump election agenda items for pension funds to debate
Peter Kraneveld identifies Trump’s election chances as an important political risk for pension funds