IPE's United Kingdom Coverage – Page 37
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Country ReportMercer’s upbeat vision for UK pension funds and their investment advisers
James Lewis, UK CIO at Mercer, is optimistic about the future of the UK’s DB and DC industries
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Opinion PiecesStriking the right balance on pension funds and fiduciary duty
Pension fund investment principles, strategies and decision-making have all become more complex in the wake of the growth of sustainability factors in general and climate change in particular. This has made the interpretation and practice of trustee ‘fiduciary duties’ more vexed and challenging than ever. A recent review of fiduciary duties in the UK by the Financial Markets Law Committee (FMLC) put it this way: “It is sometimes easier to state the duties than it is to apply them.”
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InterviewsMerseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
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FeaturesUK creates social factors template for pension investors
Environmental and governance risks receive much attention, but UK and other European institutional investors have focused less on social factors and their complexities.
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NewsFiduciary managers’ growth portfolios underperform their target returns
XPS survey finds that majority of fiduciary managers’ growth portfolios underperformed their target returns by 3% or more
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NewsSmall DB schemes unlikely to run on beyond buyout funding level due to costs
Hymans Robertson finds that the cost of running a small DB scheme is four times the cost of running a large scheme
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NewsLGPS funding level increases to 106% ahead of next actuarial valuation
LGPS funding level improved from 67% at 31 March 2022 to 106% as at 31 March 2024
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NewsThe People’s Pension expects ‘adequate’ stewardship resourcing from managers
The People’s Pension has strengthened the expectations of its investment managers in its new responsible investment policy
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NewsPensions Dashboard Programme to launch user testing and planning group
PDP highlighted that there is a need to robustly test dashboards as they develop
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NewsUK regulator committed to supporting further innovation in DB market
TPR is due to publish its approach to profit release mechanism in superfunds and new DB alternative arrangements guidance this year.
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NewsRegulator calls for UK DB schemes to reassess long-term objectives
TPR’s Louise Davey says ‘trustees should look to redirect some of their funding level improvements towards a funding and investment strategy that is aligned with their plans’
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NewsPIC launches streamlined solution for small pension schemes
The service will be available to schemes with assets of less than £100m looking to complete a buyout
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AnalysisMansion House Compact: spotlight on Aegon
Niall Aitken, head of retail investment proposition at Aegon, spoke to IPE about why Aegon signed up to the compact and the complexity of its journey
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NewsChurch Commissioners appoints ‘planet lead’
Laura Moss-Bromage will design and lead the Church Commissioners’ portfolio-wide biodiversity strategy
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NewsACCESS Pool seeks two private equity allocators
The aggregate size of annual commitments to both private equity allocators will be on average around £500m or more each year
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NewsInvestors want more clarity on decarbonisation plans for UK transport industry
UK government risks creating an investment hiatus through its inconsistent and opaque approach to public-private engagements
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NewsPLSA calls for superfund regime before establishing public sector consolidator
Association says more time is needed to determine whether public sector consolidator is needed
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NewsPPF-run pensions consolidator could unlock £10bn in UK investment
The lifeboat scheme estimates that pension funds with assets totalling £130bn could be interested in a transfer
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NewsFTSE350 DB schemes do not invest in line with Mansion House agenda
Mercer analysis of FTSE350 pension funds shows an aggregate surplus of £66bn at the end of March 2024
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NewsShell calls on investors to reject climate resolution from European pension funds
Follow This calls on responsible investors to ‘side with their peers’ instead of the board of Shell
