FRR launches ESG portfolio analysis searches and updates RI policy
Responsible investment strategy for 2019-23 includes aligning portfolio with 1.5-2°C warming trajectory and defining an ‘extra-financial risk budget’
French government adviser delivers pension reform recommendations
Report elaborates vision of a points-based universal system to replace the 42 schemes that form the current mandatory state-backed system
France’s ERAFP keeps its eye on portfolio diversification
The €30bn pension fund is seeking to shift investments towards equities, private equity, real estate and infrastructure
France’s Agirc-Arrco cuts deficit, adopts SRI charter
The reported deficit in the newly merged schemes fell from €2.9bn to €1.6bn ahead of a targeted return to financial equilibrium in 2020
€28bn nuclear decommissioning fund adopts new MSCI climate indices
Energy giant EDF says it believes in ‘enabling transition to a low carbon economy’ and plans to allocate to assets benchmarked to MSCI’s third range of climate-related indices
BlackRock cites auto-enrolment, UK’s NEST as model for French reform
Asset manager sets out a host of recommendations for pension saving reforms contained in the Pacte law, including auto-enrolment and pensions dashboards
ESG roundup: LSE buys analytics provider Beyond Ratings
Also: Exclusions lead sustainable investment surge in Switzerland; EIOPA consults on climate change and Solvency II; UK minister says schemes ‘doing the right thing’ on climate change
France’s FRR awards €1.7bn domestic, European small cap mandates
Award concludes search launched in April last year, with US small cap and Japanese equity searches still outstanding
Mandate roundup: Ircantec awards five mandates worth €2.8bn [updated]
Plus: German church fund awards currency overlay mandate to Metzler; Italian education workers’ scheme shakes up manager line-up; Hampshire hires JP Morgan
Reserves crucial for new pensions system, say French investors
Investor association Af2i sets out views on unified French pension system after reform law passed
Commission launches infringement action against 17 states over IORP II
Proceedings launched for “non-communication” of transposition measures after January deadline
Custodian KAS Bank embraces €188m takeover bid
Dutch custodian to become ”worldwide centre of excellence” for pension funds with additional alternatives capabilities
‘Brutal’ stock markets hurt FRR’s return in 2018
French reserve fund posts 5.2% investment loss after return-seeking assets fall 8%
IORP II: How the EU directive has reshaped the pensions industry
IPE explores how the IORP II directive has been implemented across EU member states
France’s Sacra latest to launch new FRPS pension vehicle
Insurance sector scheme turning into an ‘FRPS’ with €3bn investment portfolio
AXA to build private debt partnership with Capzanine
AXA Group companies buy out Eurazeo stake to improve client access to mid-cap private debt assets
ERAFP awards ‘unbenchmarked’ EM corporate bond mandate
Portfolio run by Aberdeen to comprise conviction holdings meeting certain ESG criteria
ESG: France’s Article 173: taking stock
France’s ground-breaking reporting duty for institutional investors is being reassessed after a two-year test period
IPE Conference: Quantitative v qualitative in impact investing
Asset owners from Ireland, Sweden, France and the UK argue that numbers aren’t the only way of measuring impacts
PRI signatories elect new board members
Laetitia Tankwe, adviser to Ircantec’s president, joins two incumbent asset owner representatives in being elected
Pension liabilities set to rise as mortality falls in first half
Analysis from longevity experts at Club Vita indicates that longevity improvements could be on the rise again – which means DB scheme costs could increase
UK MPs criticise government over handling of FRC chair appointment
Simon Dingemans is set to chair the Financial Reporting Council and its successor body – but politicians have expressed ‘frustration and dissatisfaction’ at the process
Accounting standards board approves changes to DB reporting methods
The IASB sought to address complaints that pensions accounting rules ‘often do not meet the primary objectives’ of accountants and analysts
Accounting body could drop hybrid scheme work, IASB warns
The international standard setter is looking for help from the European Financial Reporting Advisory Group to inform its work on accounting for hybrid pension funds
FTSE 350 discount rates more bunched around average – report
Hymans Robertson suggests greater bunching an effect of tougher oversight, higher yields
Digital Edition
Subscribe to the digital edition of IPE magazine to view the latest issue directly in your browser.
- Previous
- Next
Brussels People: Europe’s conservatives eye Africa
Describing himself as “the most senior elected Brit in Brussels” and speaking ahead of 29 March when he and the UK’s 72 other MEPs were set to relinquish their mandate in the European Parliament, Syed Kamall is keen to speak about matters other than Europe.
Firebrand targets supervision
One of the knottier issues in Brussels at the moment is the future of the European supervisory authorities
Banking on life after politics
At 49, Brian Hayes is young man by political standards. Having started in Irish politics early with his appointment to the Irish Senate in the mid 1990s, Hayes was elected to the Dáil, the lower house, before he was 30, taking a seat for the Fine Gail party.
Brussels People – Lieve Wierinck: Building on Europe’s scientific base
Lieve Wierinck’s main political passion is ensuring the EU takes full practical advantage of Europe’s excellent scientific base
Brussels People: Sven Giegold, MEP
While he derives some satisfaction from advances in green energy and the like, Sven Giegold is unhappy that most global investment can still be classed as environmentally unsustainable.
Letter from Brussels: Brussels seeks to bolster secondary market in non-performing loans
Are non-peforming loans an investor’s dream come true? Or do they represent immeasurable risks?
Letter from Brussels: Focus on pension products and supervision ahead of elections
Tensions are rising in Brussels as the EU institutional mandate approaches its end ahead of the Parliamentary elections in May 2019, and the Commission has already ceased issuing new proposals in the absence of legislative time.
Letter From Brussels: CMU urgency mounts
The race is on to complete the EU’s flagship Capital Markets Union project before the mandates of the Commission and Parliament elapse next year
Letter from Brussels: Campaign to boost pan-EU distribution of UCITS and AIFs
Another step by Brussels to ease financing to business across the EU comes with measures to facilitate the cross-border distribution of investment funds
Letter from Brussels: Who cares about our €3.5trn?
PensionsEurope is concerned about a Brexit ‘no deal’ and is calling for negotiators to pay heed to the €3.54trn sector’s interests
Letter From Brussels: Corporate tax reform in view
Radical upgrades to the EU’s corporate tax base norms have never been so close to fruition
Letter From Brussels: Default guarantee option dominates debate on PEPP
Europe’s asset management industry is lobbying against any mandatory guaranteed default option in the third-pillar PEPP proposal
Letter From Brussels: Brexit focus moves to pensions
As the risk of a no-deal Brexit comes into focus, attention is turning to ways to mitigate the damage across financial services, including asset management and pensions
Letter from Brussels: Easier securitisation on the horizon
The EU’s securitisation package has finally passed through the European Parliament and Council. However, the new rules will not be applied until January 2019
Letter from Brussels: Opposition to mission creep
The EU’s controversial mandate for a radical shake up of financial supervision has received a cool reception from the pensions sector as well as smaller EU members
Letter From Brussels: Court for international investor disputes on the horizon
International investors in the EU have for decades been suffering from woeful dispute settlement proceedings when involved in cases against public authorities
Letter From Brussels: Pension rights for posted workers
Discussions over the payment of social costs for workers from central and eastern European countries posted temporarily to wealthier EU countries are playing a major role in the attempt to update existing directives
Letter from Brussels: Tax threatens PEPP proposal
At first sight, the benefits of the European Commission’s Pan European Personal Pension (PEPP) regulation proposal seem clear. But it did not take long for commentators to point out the considerable hurdles
Letter from Brussels: Reboot for Capital Markets Union
The European Commission’s “further steps to drive forward the Capital Markets Union (CMU)” outline nine new priority legislative actions to solve the EU’s long-term cross-border investment challenge
Letter from Brussels: EU seeks to avert Brexit arbitrage
Strong words on Brexit are flying in political circles. But behind the theatre, concerns about the future of London’s fund management sector are emerging