UK’s NEST delivers first profit as it starts government loan repayment
‘Our aspiration to grow our private market allocations reflects our belief in the long-term value these investments can deliver,’ says NEST CEO Ian Cornelius
EIOPA raises expectations on national supervisors to monitor IORP liquidity risk
The move follows growing concerns over the ability of IORPs to withstand sudden cash demands triggered by market shocks and collateral calls
EU’s sustainability simplification drive continues with taxonomy, ESRS updates
Measures such as introducing a materiality threshold, and simplifying reporting formats are all positive moves, says PSF’s Helena Vines Fiestas
Swedish pensions reform efforts must heed rise of anonymous owners, says AMF
Blue-collar occupational pensions giant says foreign index funds rarely live up to their obligations as owners of Swedish companies
PensionsEurope warns savings account push could undermine supplementary pensions
Offering preferential tax treatment to savings and investment accounts could jeopardise objective of providing sufficient income replacement in old age, says group
L&G partners with Blackstone to accelerate growth ambition
L&G looks to enhance its competitive advantage in annuities market and bolster its asset management position in key geographies
ESG data doesn’t help investors make better risk-return decisions – study
Scientific Beta’s out-of-sample research also finds that financially optimal use of ESG information entails a degree of tilting towards ESG laggards
British Business Bank to support diverse, emerging fund managers with £500m
This includes £400m to support managers from underrepresented groups and £100m towards supporting female fund managers
Jupiter acquires CCLA to expand UK footprint
The acquisition will allow Jupiter to expand existing presence in the UK local authority sector
People moves: BNY Investments appoints Nico Aspinall for new role
Aspinall, previously head of product advocacy at Newton Investment Management, will now be head of UK workplace at BNY Investments
Bank of England warns against ‘mandation’ of pension investment strategy
BoE governor Andrew Bailey’s clear objection puts the spotlight on the Pension Schemes Bill’s future
UK plumbing pension fund picks WTW for outsourced chief investment officer
WTW was selected for its ability to tailor a solution that balances resilience with long-term value creation, says fund’s trustee chair
VZB halts loan to EV Digital Invest amid insolvency and legal dispute
The €2.2bn pension fund for German dentists has declined to provide further funding to EV Digital Invest to protect scheme assets from ‘untenable risks’
Utmost Life completes four full scheme buy-ins
New business premiums for the four deals totalled £177m
Achmea discontinues pension admin business
The Dutch pension manager will terminate its chronically loss-making pension administration business for external clients by 1 January 2028
Fondo Fon.Te sharpens private markets focus with new multi-asset mandate
Under the revised strategy, the €3bn ‘Sviluppo’ sub-fund will double its allocation to private markets from 5% to 10%
Swiss pension funds reinforce FX hedging amid rising volatility
With liabilities denominated in Swiss francs, pension funds aim to limit investment volatility by reducing exposure to currency fluctuations
ESG proposals shape companies’ subsequent environmental, governance performance
Influence, which isn’t present for social issues, is apparent even when resolutions aren’t successful
Now:pensions enters private markets with first investment
The investment includes an allocation to UK affordable housing
PMT takes six months to reduce interest rate hedge after DC transition
The Dutch pension fund will start its transition on 1 January 2026, aiming to complete it by 30 June
UK regulator to develop climate transition plan template for pension funds
TPR transition plan working group to present template to DWP later this year
Germany’s KZVK appoints Fullgoal to manage Chinese equities mandate
The pension fund allocates 8.52% of its assets to Asia, but targets an allocation of 10-25%
Asset owners should look to defence firms’ internal governance
Aerospace and defence sector is generally seen as high risk, with business ethics a key risk area
Dutch public transport fund trims concentrated equity holdings
Pensioenfonds Rail & OV has been running an actively managed concentrated portfolio since 2010, but recent performance has lagged substantially
German firms ramp up pension buyout activity
WTW and Vedra see robust interest from corporates aiming to reduce financial risk and remove pension obligations from their books
12% rise in asset management costs for Dutch pension funds
The main reason for the increase was a rise in performance-related fees
Pensions Insurance Corporation Group acquired for £5.7bn
PIC will be held by a single strategic owner for the first time in its 20-year history
Fondo Byblos cuts equity exposure, eyes private markets
Managers appointed include AXA IM, Groupama, AllianzGI, Payden & Rygel and Eurizon Capital
Multi-country initiatives could help move SIU goals forward, says OECD
Preferential tax treatment still a ‘formidable challenge’ for development of EU-wide savings and investment products
KZVK winds down equity risk derivatives as part of portfolio overhaul
The €36bn German occupational pension provider for employees of the Catholic Church plans to reconfigure its equity risk management framework this year
People moves: Redington’s chief to step down
Plus: LGPS Central to replace chair Joanne Segars; Aon MasterTrust appoints independent trustee
Norway launches independent review of SWF’s active management
Academics Trond Døskeland and André Wattø Sjuve of Bergen’s NHH appointed as expert group
IFS review highlights structural flaws in UK pension system
UK’s Institute for Fiscal Studies calls for urgent reform
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Pensions and Lifetime Savings Association rebrands with new strategy
The new name aims to reflect the importance of pensions in people’s lives and economic growth
Metzler targets SMEs with new pensions vehicle
Firm launches Mittelstands Pensionsfonds targeting SMEs, covering a wide range of industries
UK fiduciary management AUM hits £272bn as mandate sizes grow
Quantum Advisory’s latest report shows a decline in the number of mandates seeking high returns
Intesa Sanpaolo pension fund awards €700m in tail-risk mandates
The tail-risk mandates are part of the scheme’s broader strategy to weather ‘deeply uncertain’ macroeconomic environment in 2025
Hymans Robertson launches checklist for defined benefit pension funds
It is crucial for DB schemes to follow clear process in run-on journey, says Sachin Patel, head of corporate DB
Shell pension funds pick GSAM as new fiduciary manager
The decision means that Shell Asset Management Company (SAMCo) will be wound down in due course
Investors urge EU legislators not to take an axe to sustainability laws
CSRD and CS3D are ‘essential’, claim 80 financial institutions
Supervisors flag ‘inadequate’ sustainability staffing at some asset managers
Managers have between 0.5 and 16 employees charged with integrating sustainability risks, but some aren’t qualified, claims research
NBIM, UNICEF launch disclosure code for companies around child rights online
Failure to respect children’s rights can have harm businesses and lead to lawsuit risk, says Norwegian SWF manager
Trustees urged to respond to consultation on financial advice overhaul
Pension fund trustees are among the stakeholders the FCA is seeking input from on ‘targeted support’ consultation
Molins UK Pension Fund completes £249m buy-in with Aviva
The transaction secures the benefits of over 3,500 members of the scheme sponsored by Mpac Group
Relief for pension funds as retaliatory tax code dropped from US budget bill
Section 899 pulled after G7 countries agreed to exempt US companies from parts of global minimum tax rate deal
Fondo Espero appoints Schroders, Amundi for ‘Crescita’ sub-fund
The €1.5bn Italian pension fund for school employees has also selected Eurizon Capital for a tail risk hedge mandate
BVV restructures management as it targets new industries for DC plans
German pension fund appoints CIO and chair of three pension vehicles
KLP divests US, German firms for supplying IDF in Gaza
Denmark’s AkademikerPension relaxes responsible investment policy on defence
Jesal Mistry to leave Legal & General Investment Management
Mistry has helped L&G navigate the Mansion House agenda driven by the UK government
LGPS fund commits £25m to nature-based infrastructure fund
West Yorkshire Pension Fund backs firm that aims to raise £10bn for nature-based infrastructure over the next decade.
