IPE's United Kingdom Coverage – Page 126
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News
Funds invested in illiquid assets are ‘built on a lie’: Mark Carney [updated]
Bank of England governor warns of ‘potential developing systemic issue’ regarding funds promising daily liquidity while investing in illiquid markets
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NewsUK asset managers target DC schemes with long-term investing fund structure
The Investment Association wants to create a vehicle for long-term and illiquid asset investing suitable for DC pension schemes
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Regulator voices ‘real concerns’ over small DC schemes
Charles Counsell comments on consolidation, defined contribution and risk management in his first speech after taking over as chief executive of the UK’s Pensions Regulator
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News
Italian, UK institutional investors back private debt funds
Italian banking sector pension fund and others join European Investment Fund in backing Anthilia BIT III; Merseyside LGPS fund invests £30m with Funding Circle
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News
University staff threaten to boycott Cambridge college over USS withdrawal
Withdrawal from multi-employer scheme for the higher education sector will cost 2% of Trinity College’s assets; USS plays down impact on funding and covenant
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NewsLGIM sees results from ‘engagement with consequences’ over climate
UK’s largest asset manager reports improvements at companies in sectors that are pivotal to low carbon transition, but has axed companies including ExxonMobil and MetLife
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NewsAccounting roundup: Committee warns on DB-DC ‘blurred lines’
Plus: FRC maps out its plan to transition to the Audit, Reporting and Governance Authority; Change to accounting rules for multi-employer pension schemes
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NewsAuto-enrolment success masks inadequate savings rates, industry warns
More people are saving into a pension in the UK following auto-enrolment, but the amount they are saving is far short of what is needed
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NewsUK public sector schemes caught in consultant rule change
LGPS funds will be subject to new rules regarding the monitoring of investment consultants and fiduciary managers from December, having previously been exempt
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News
UK regulator seeks to stem flow of exits from DB schemes
Financial Conduct Authority says too much financial advice related to transfers is ‘still not of an acceptable standard’
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News
MP Pension sheds Vale stock as engagement fails
Church of England Pensions Board and Sweden’s AP Funds shine a light on global tailings dam management in wake of January disaster
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News
UK government urged to revisit miners’ pension scheme surplus rules
Government has taken £4.4bn from excess pension assets since 1994, but MPs, trustees and scheme members have demanded changes
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News
Asset management roundup: UK, China regulators agree stock connect programme
Plus: DWS to sell €2bn hedge fund business to Alma Capital; MFS signs Italian distribution agreement with Deutsche Bank
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News
L&G launches blockchain-based pension insurance platform [updated]
Legal & General has teamed up with Amazon to develop a blockchain-based pension risk transfer process, dubbed Estua-re
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News
UK’s NEST quits smoking in two-year tobacco divestment project
The country’s largest auto-enrolment provider says the tobacco industry does not appear viable in the long term, and it will exit £40m of investments
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News
Mandatory tendering for fiduciary contracts becomes UK law
Pension scheme trustees must conduct a competitive tender for any new fiduciary contract covering 20% or more of assets
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NewsHSBC pension boss to exit for London CIV
Mark Thompson to lead £36bn LGPS asset pool from September, after an eight-year tenure leading HSBC’s UK pension operations
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News
Should DC schemes drop the term ‘ESG’?
Invesco survey finds ‘ESG’ term unpopular among DC scheme members, with most preferring either ‘responsible investment’ or ‘ethical investment’
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News
FCA to revisit UK illiquid asset rules after high-profile fund suspension
Trading in shares of the £4.3bn LF Woodford Equity Income fund was suspended last week following a wave of investor redemption requests
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NewsUK signs off further reporting requirements for pension funds
New regulations to implement SRD II require schemes to set out policy on asset manager contracts and agreements
