IPE's United Kingdom Coverage – Page 139
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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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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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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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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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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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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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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
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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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News
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
