Latest News from IPE – Page 438
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Asset managers propose new fund structure for illiquid assets
The Investment Association has proposed the creation of the ‘Long-Term Asset Fund’, which would be a modified version of an existing category of open-ended authorised fund
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Dutch scheme funding declines during second quarter
Total assets across 229 pension schemes rose by €55bn, but liabilities were pushed €96bn higher by falling interest rates
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Ex-regulator boss brings FX rigging lawsuit against five banks
Former chair of the Pensions Regulator Michael O’Higgins is leading efforts to secure compensation from five banks fined more than €1bn in May over two FX cartels
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Alcatel-Lucent scheme’s liquidation to last until 2023
Parent company Nokia will continue to compensate the pension fund for terminating its contract in 2011, while contributions will be channelled to members since transferred to PME
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Asset management roundup: Liontrust snaps up Neptune in £40m deal
Also: €15.4bn asset manager CQS has struck an agreement with a Chinese financial services group and a Hong Kong-based investment company
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Church of England eyes private equity after 2.6% loss in 2018
The £2.4bn Church of England Pensions Board was hit by the fourth-quarter public equity crash, but also incurred losses on its liability-matching portfolio
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Food wholesaler Sligro to join Achmea’s consolidation vehicle
Centraal Beheer adds another pension fund client, bringing its assets under management to €1.9bn
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LGPS funds to be exempt from fiduciary management rules
DWP consults on new rules for fiduciary managers and investment consultants following CMA investigation
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Pension SuperFund signs up second client in £300m deal
DB consolidation vehicle’s first deal was submitted to the regulator for clearance in May
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Auto-enrolment providers slam NOW: Pensions over cost analysis
The master trust claimed it was the cheapest provider on the market – but its rivals have hit back over ‘artful propaganda’ and ‘absurd’ outcomes
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Aberdeen Standard appeals rejection from Sweden’s state-backed fund platform
Decision by Swedish Pensions Agency affects nine funds managing total of €179m, and comes as the fund platform is rolling out a series of reforms
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Dutch multi-employer scheme backtracks on consolidation plan
Multi-company schemes have fallen out of favour in recent years with the rise of APFs – Pensioenfonds Pon is the last remaining in the Netherlands
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NewsFRR launches ESG portfolio analysis searches and updates RI policy
Responsible investment strategy for 2019-23 includes aligning portfolio with 1.5-2°C warming trajectory and defining an ‘extra-financial risk budget’
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€3.2bn Delta Lloyd scheme assessing options following NN acquisition
The scheme’s board has decided against merging with NN’s CDC scheme but could move to an APF, stay independent, or opt for a buyout with an insurer
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Swedish roundup: AMF to invest in companies earlier and for longer
CEO Johan Sidenmark warns of “dark clouds on the horizon”, while Folksam chief hails 6.1% H1 return strong despite Swedbank scandal
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Accounting body could drop hybrid scheme work, IASB warns
The international standard setter is looking for help from the European Financial Reporting Advisory Group to inform its work on accounting for hybrid pension funds
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LGPS Central raises £700m for emerging markets fund
Four local authority funds support emerging markets equity mandate, run by BMO, UBS and Vontobel
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Schroders to buy majority stake in impact investor BlueOrchard
Deal underscores growing mainstream investor interest in impact investing, as distinct from ‘exclusionary and inclusionary SRI and ESG integration’
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Moody’s makes buy-side fintech, climate risk acquisitions
RiskFirst is known for its platform for defined benefit pension plans, while Four Twenty Seven specialises in climate risk data and analysis
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USS assets hit £68bn as deficit climbs again [updated]
UK’s biggest pension scheme aims to improve communication policies as member dissatisfaction grows
