NZAM: Which asset managers have stuck and which ones have left
Most Net Zero Asset Managers initiative members stay on after overhaul, but major names remain absent
Germany’s VBL sets tailored net zero goals across asset classes
The German public sector supplementary pension fund sets separate net zero targets for equities, bonds and real estate, aiming for 2050
Italian schemes shift to domestic equities in US pullback
Italian pension funds boost domestic and emerging market exposure while trimming US tech and Treasuries
New dataset aims to make nature-related financial risk actionable for investors
New tool aims to help investors quantify how biodiversity loss could affect portfolio performance
AP4 leads Swedish buffer fund returns as forex hedging pays off
With legal obligation to protect against currency fluctuations, AP3, AP4 take weaker hit from krona strength than AP7
Supervisor expects stricter risk management from German pension funds
Finance ministry expects schemes to apply new standards developed by ABV, the association of professional pension funds in Germany
UK lifeboat fund confirms zero levy for second year
The Pension Protection Fund, however, confirmed it will maintain a ‘proportionate’ alternative covenant pension fund levy next year
UK publishes sustainability reporting standards
The standards are voluntary for the time being, but the Financial Conduct Authority is currently consulting on changes to the UK’s listing rules
People moves: Railpen names chief risk officer
The UK £34bn railways pension fund has also appointed a chief people officer
Relaunch of NZAM sees most asset managers doubling down on net zero
Members must ‘commit to support investing aligned with the global goal of net zero greenhouse gas emissions’
UK populist party plan to end defined benefit fund for staff sparks industry alarm
Reform UK party wants to create a £500bn British sovereign wealth fund that would boost economic growth, and close LGPS funds to new members
Swiss pension funds consider venture capital as satellite allocation
Consultancy c-alm says dedicated domestic allocations to venture capital are rare
Funds keep ESG branding despite holding fossil assets
Research finds most funds breaching ESMA’s ESG naming rules opted to change their names rather than sell fossil fuel assets
UK publisher completes £270m buy-in with M&G for Trinity pension fund
The second, and final, buy-in secures the benefits of 3,200 members of the Trinity Retirement Benefit Scheme
Schroders, JP Morgan among US, UK winners in Swedish FTN’s biggest tender
Big ticket sizes was key in attracting the best asset managers for premium pension savers, Swedish agency says
EC’s IORP II review returns benchmarking proposal could backfire, say Dutch
Dutch pension fund association sets out stall on IORP II review proposal in position paper on the Commission’s supplementary pensions package
Aerospace, cyber venture capital test Italy’s pension framework
Italian pension funds increase venture capital bets in aerospace and cybersecurity, urging clearer rules and larger funding rounds
Swedish pension providers urged to rethink allocation, decumulation design
Consultancy Arkwright recommends a structurally higher allocation to unlisted assets, arguing that value creation is increasingly concentrated in private markets
NBIM sets guardrails on corporate use of environmental attribute certificates
Oil fund manager makes clear companies should prioritise reducing emissions from own operations and value chains
Europe’s supervisors wade in on sustainability disclosure rules
EIOPA, ESMA and the EBA flag concerns about permanent reliefs and compatibility with SFDR
Delta Lloyd pension fund agrees buyout with Zwitserleven
The closed €3bn pension scheme has secured 100% annual pension indexation for all its members
Ardian wins mandate to build portfolio for L&G’s Private Market Asset Fund
The vehicle, part of L&G’s Lifetime Advantage Fund, is designed to provide L&G’s 5.6 million UK defined contribution members greater access to private markets
AP7 to pilot test wider insourcing of SEK1.36trn passive portfolio
Geopolitical situation is one of the reasons behind Swedish pensions giant’s move to bring lion’s share of equities in house
Aon Germany sets up advisory board to streamline operations
The new board will focus on client acquisition, building executive partnerships, talent strategy, strategic growth initiatives, and M&A
Swedish lobby troubled by commission’s misunderstanding of pensions
Insurance Sweden’s Erlandsson warns raising pensions capital tax creates uncertainty and interferes with complex interplay in pension system
German Spezialfonds custody market tightens as top banks deepen dominance
BNP Paribas, HSBC and JP Morgan together hold €1.19trn in Spezialfonds custody mandates, equating to just over 56% of the market, according to Kommalpha
Compenswiss turns to bespoke asset allocations for each social security fund
Swiss central compensation fund shifts to fund-specific allocations as AHV, IV face rising costs and liquidity pressures
Net-zero this century still most likely outcome, says forecast consortium
‘Clean technology advances and investor responses increasingly visible in forecasts for individual nations,’ says IPR project director
People moves: Former Tesco Pension chief joins London CIV
Plus: Industriens Pension has appointed a new legal director; APG has added to its executive board
Responsible investors move forward on industry guidance for defence sector
Attitudes towards investing in defence-related sectors are slowly shifting
PBU’s new CIO vows to stick with investment strategy
Danish pension fund’s alternatives chief Johannes Bill Ladegaard takes over role previously held by Carsten Warren Petersen
Dutch pension funds defy sustainability backlash, increase green ambitions
Pension funds remain hesitant to invest more in market segments with capital scarcity, even though they agree they have a financial interest in minimising climate change
EU pension overhaul must not ‘disturb’ Dutch system, warns finance minister
Other member states call for simplification and changes to tax treatment during debate on IORP II and PEPP revisions
ASR reinsures €1.3bn pension buyout with Pacific Life Re
The Dutch insurer said last summer it was looking to reinsure pension buyouts to free up capital
AP2 sees half the AP6 transition portfolio turning into cash in two years
Ahead of expansion, AP2 returns just 4.6% in 2025, citing currency effects
IBM IT Solutions pension fund completes £700m buy-in with Standard Life
The transaction covers more than 3,600 members of the plan
Sopra Steria retirement fund signs £113m buy-in with PIC
The buy-in deal secures benefits of all 355 members of the Steria Management Plan section of the Sopra Retirement Benefits Scheme
Germany’s reform spurs possible pension shake-up by global corporates
Second pillar changes provide opportunities for multinationals to tap into social partner model
EIOPA concerned about proposed reliefs in corporate sustainability reporting standards
The European Commission needs to decide on suggested revisions to the European Sustainability Reporting Standards
AP4 rehires bond trader and climate champion Ulf Erlandsson
Erlandsson has been running the Anthropocene Fixed Income Institute for the past six years
UK consultants launch asset owner-manager stewardship alignment tool
New tool is designed to help asset owners assess whether asset managers’ stewardship practices align with their expectations, offering suggestions where gaps emerge
Ex-Brunel equity manager finds a new home at Avon Pension Fund
Avon will transition from Brunel to its new investment pool, LPPI, in April 2026
KLP claims upper hand in Norway’s 2025 municipal pensions tenders
But independent municipal pension fund returns beat KLP over time, says lobby group, citing high equity allocations
Finnish pension funds reveal shrinking allocations to domestic market
Ilmarinen narrowly trumps nearest rival Varma on 2025 returns with 8.1%
NEST seeks segregated account manager for £260m ethical equities allocation
£60bn UK pension scheme launched procurement process for equities component of £470m fund today
German dentists’ pension fund demands damages from Baker Tilly
Versorgungswerk der Zahnärztekammer Berlin (VZB), the pension fund for dentists in Berlin, Bremen and Brandenburg, is facing losses of €1.1bn
New association seeks to raise awareness of PEPP
Pan-European Personal Pension Providers Association (PEPPPA) got going in September last year
Pension fund for UK manufacturing company strikes £180m buy-in with M&G
Bulk purchase annuity secures pension benefits for over 3,000 members of FTSE 250 company
Vatican bank unveils Morningstar indices aligned with Catholic ethical rules
Istituto per le Opere di Religione and Morningstar launch eurozone and US equity benchmarks, screening companies by Catholic ethical standards
UK pensions regulator urged to fine-tune multi-employer CDC rules
TPR’s draft code is a critical step for bringing multi-employer collective defined contribution pension funds to the UK, says TPT Retirement Solutions
