IPE's United Kingdom Coverage – Page 45
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Special ReportFiduciary management special report: Has the UK peaked?
After years of growth throughout the 2010s, the number of fiduciary mandates has levelled off. Will trustees still opt for fiduciary now that insurance risk transfer is cheaper and consolidator funds have received the green light?
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NewsIncreased funding levels raises ‘novel issues’ for funds, SAB says
Funding levels increased from 98% in 2019 to 107% in 2022
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NewsPharmacists to complain about Boots and L&G buy-in deal
Pharmacists union members plan to complain about the removal of an unreduced pension option following Boots and L&G transaction
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NewsCorporate strategy and pension schemes’ ESG agendas misaligned, survey finds
Only 37% of CFOs and senior executives reported their corporate strategy and schemes’ ESG agendas are aligned
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NewsUSS to reduce contribution level to 14.5% in January
While reporting a healthy surplus, lowering contribution rates and improving benefits is a ‘positive backdrop for USS’, says CEO Carol Young
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NewsNBIM extends long-running Niger Delta engagement with Shell, Eni
Norwegian SWF says ‘still a forward-looking risk of norm violation’ by the oil companies
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AnalysisFCA did not consider UK pension funds concerns over listing regime
The Authority set out proposals to make UK listing regime ‘more accessible, effective, and competitive’
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NewsUK to conduct transition finance market review
Review to be led by Vanessa Havard-Williams, former head of Linklater’s global environmental and climate change practice
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NewsPension fund money makes up smaller slice of asset managers’ AUM
European asset managers seen tending €29trn in 2023 after stronger markets this year
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NewsPPF and DWP explore legislative changes to further reduce levy
Next year’s target collection of £100m will be the lowest levy the PPF has ever charged
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NewsUK pension funds call for more control over proxy voting
Signatories to an open letter to asset managers include London CIV, Merseyside Pension Fund, Environment Agency and Smart Pension
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NewsCultural shift needed to make pension reforms work, says London minister
The Edinburgh and Mansion House reforms would address some ‘friction points’, says Bim Afolami
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NewsUK pensions industry calls for reform of state pension
IFS suggests four-point pension guarantee to provide greater certainty over what people can expect to receive from the state pension
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NewsRailpen expects companies to use new ISSB standards ‘at a minimum’
‘In 2024 we will continue to use our voice to advocate for the strong shareholder rights and effective corporate governance, which ultimately benefit both investors and companies,’ says Railpen
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NewsUK schemes misaligned with climate transition, says XPS study
The average implied temperature rise of scheme holding is 2.8°C, much higher than the Paris Agreement targets of 1.5°C
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NewsFRC updates actuarial guidance in light of increased buyout activity, superfunds
FRC is also considering feedback received in relation to TAS 310
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Opinion PiecesViewpoint: Unequal voting rights must be phased out
Weakening protections around dual class share structures will not deliver the desired benefits
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NewsUK CDC schemes face challenges with transparency and fairness
PPI warned that maintaining the aim of greater transparency and fairness in the UK will lead to challenges for decumulation CDC.
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NewsRailpen framework to help investors assess their capacity to invest in illiquids
The framework focuses on the illiquidity aspect of private markets, rather than the potential for additional return or diversification
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NewsDe-risking gains in importance for pension schemes approaching endgame
56% of survey respondents identify de-risking as investment priority
