IPE's United Kingdom Coverage – Page 127
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LAPFF blames ‘defective’ accounting rules for 2008 Irish banking crisis
The £269bn public pension group has been challenging accounting standards for years and took the issue up again at a hearing into Ireland’s banking collapse
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£45bn LGPS pool appoints quartet of global equity fund managers [updated]
Border to Coast chooses four managers for £4.5bn fund but scraps plan for multi-manager addition; fixed income funds next to be launched
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Rolls-Royce UK pension fund seals record £4.6bn de-risking deal
Trustee to offload £4.1bn of pension liabilities covering 33,000 pensioners to Legal & General, and transfer £4.6bn of assets
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UK and Dutch regulators to increase co-operation ahead of Brexit
The agreement between the FCA and AFM is to apply in both a deal and no-deal Brexit scenario
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High street chain agrees £310m pension funding deal with regulator
Arcadia, owned by Sir Philip Green, is attempting to cut its debt bill to stave off bankruptcy and has secured the support of the Pension Protection Fund
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PGGM joins consortium’s bid for London Silvertown Tunnel
Dutch asset manager joins as part of joint venture with construction firm BAM, alongside Aberdeen Standard Investments and Macquarie
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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
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Academics call for government inquiry into USS governance
More than 1,000 UK-based professors and university staff have demanded action over governance concerns at the UK’s largest pension fund
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UK seeks to boost impact investing sector with new initiative
The Impact Investing Institute brings together two existing bodies that have been working to expand impact investing in the UK
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UK regulator adopts rules to boost stewardship transparency
New rules to implement revised Shareholder Rights Directive push asset managers to disclose engagement policy and explain contribution to long-term value
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Staff and students protest as college threatens exit from USS
Council in charge of Trinity College, Cambridge wants to extract itself from USS in a move that could cost it £30m
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FCA urged to investigate fund manager voting policy ‘market failure’ [updated]
Pensions minister tells ‘obstructive’ fund managers to shape up on corporate governance after trustee association files official complaint with UK regulator
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Border to Coast primes managers ahead of £6bn fixed income search
£45bn local authority pension pool will soon start the manager selection process for sterling investment grade and multi-asset credit mandates
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NewsCost transparency poses threat to asset managers, says Moody’s
The UK’s Cost Transparency Initiative will ‘encourage institutional investors to negotiate rebates’, according to credit rating agency
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London pension funds appoint CIO for £36bn asset pool
Former Coal Pension Trustees CIO Michael Pratten moves from insurance company Canopius to take on interim position at London CIV
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NewsStudy highlights imbalance between dividends and pension payments
LCP found that FTSE 100 companies paid £90bn to shareholders and just £13bn to pension funds in 2018
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Brexit: UK recession warning as prime minister quits party leadership
Economists have issued renewed warnings of a possible UK recession after prime minister Theresa May this morning announced her resignation. May, who was appointed prime minister in the immediate aftermath of the country’s 2016 referendum on EU membership, said she would resign as leader of the ruling Conservative Party on ...
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£45bn local authority investment pool appoints permanent chair
Gerald Cooney, vice-deputy of Greater Manchester Pension Fund, has taken over from Paul Doughty at the Northern LGPS
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Marks & Spencer strikes fresh buy-ins worth £1.4bn with PIC, Phoenix
The UK high street chain has now insured ‘approximately two thirds’ of its pensioner liabilities to reduce exposure to longevity changes and other risks
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NewsChurch of England warns on volatility after 1.8% return for 2018
Allocations to private equity and strategic land post gains in excess of 20% as listed equity portfolio hammered by market volatility
