IPE's United Kingdom Coverage – Page 124
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News
LGPS Central raises £700m for emerging markets fund
Four local authority funds support emerging markets equity mandate, run by BMO, UBS and Vontobel
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USS assets hit £68bn as deficit climbs again [updated]
UK’s biggest pension scheme aims to improve communication policies as member dissatisfaction grows
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NewsEU court sinks investment cost tax reclaim case for UK charities
Cambridge University has been denied the right to reclaim VAT on fund management fees, casting doubt over the future tax situation for UK charities
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UK government consults on merger of two local authority pension funds
Merger of £492m closed transport authority fund into £15.7bn West Midlands Pension Fund intended to address solvency risks
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NewsRegulator fines former Standard Life subsidiary £31m over annuity misselling
Standard Life Assurance failed to have robust systems and controls around its pension annuity sales, according to the FCA
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New UK leader faces same Brexit challenges, say managers
Boris Johnson, former mayor of London, will become the UK’s prime minister tomorrow with the UK’s EU departure date of 31 October looming large on the horizon
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NewsChurch of England creates risk-focused strategy role
Former Bank of America Merrill Lynch and Deutsche Bank strategy chief joins £8bn Church Commissioners for England
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£22bn UK pension fund ‘should divest from fossil fuels now’, say protesters
Campaigners gather outside Greater Manchester Pension Fund’s office, but scheme argues it is already ‘working hard’ to achieve climate risk goals
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News
Auto-enrolment should be expanded, say UK firms
Nearly all companies favour broadening the regime to include lower-paid workers and the self-employed, according to a CBI/Scottish Widows poll
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News
LGPS pool targets £10bn with private markets programme
Border to Coast Pensions Partnership has launched a £500m private equity vehicle and a £675m infrastructure fund for its 12 LGPS clients
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NewsLocal authority fund shifts £500m into low-carbon index tracker
Swansea Council’s £2.1bn pension fund wants to reduce its exposure to carbon-intensive companies and fossil fuel investments by up to 50% by 2022
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NewsLuxembourg regulator highlights hard Brexit implications for UK firms
CSSF requires notifications from financial services firms by 15 September and a further submission by the end of October in order to keep operating through a ‘hard Brexit’ scenario
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Energy firm awards Aon £400m fiduciary mandate as new rules bed in [updated]
Schneider Electric awarded fiduciary management contract after competitive tender in accordance with new laws in force since early June
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News
NEST anticipates hitting £10bn by end-March 2020
The authorised master trust is growing rapidly, with assets under management doubling to reach £5.7bn at the end of March
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NewsFTSE 350 discount rates more bunched around average – report
Hymans Robertson suggests greater bunching an effect of tougher oversight, higher yields
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News
Targeting people not in paid work could narrow gender pension gap: PPI
Pension Policy Institute finds 50% more women than men to retire with no private pension
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Co-op scheme adopts ESG fund for DC default
Scheme will switch £290m to the multi-asset fund in Legal & General Investment Management’s Future World fund range
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News
Local authority pension fund backs ‘social outcomes contract’ fund
Merseyside Pension Fund and at least one other local government pension scheme have committed to the £35m fund
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NewsUK minister ups the ante on pension funds and climate change
Guy Opperman tells London Climate Action Week gathering that pension funds ‘must play a massive role’ in getting the UK to net-zero greenhouse gas emissions by 2050
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News
NEST goes live with ‘sidecar’ savings trial
Three employers are offering an emergency savings account to their staff as NEST looks to build on success of auto-enrolment
