IPE's United Kingdom Coverage – Page 126
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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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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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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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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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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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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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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
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CEO of £30bn Brunel Pension Partnership resigns
Dawn Turner was instrumental in setting up the Bristol-based asset pooling company for 10 public pension funds in the local government pension scheme
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Asset managers urged to ‘talk openly’ in support of LGBT+ staff
Follow-up report published a few days before Pride in London parade, in which investment industry employers will for the first time march together under an Investment Association banner
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PPF assets grow to £32bn but surplus hit by Kodak claim
A 5.2% investment return for 2018-19 helped boost assets but the lifeboat fund’s biggest claim dented its surplus
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Cambridge University endowment gains 8.8%; Oxford ‘flat’ for 2018
Multi-billion pound endowment funds report mixed results for private assets and listed equities
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Smiths Group secures £176m buy-in with Canada Life
FTSE 100-listed engineering firm strikes pension risk transfer deal bringing total bulk annuity value across all schemes to £1.6bn
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NewsAviva launches ethical and ESG workplace pension default strategy
Lifestyle strategy is based on Aviva ‘Stewardship’ funds in operation since 1980s that apply exclusions and engagement
