Enpam shifts to macro portfolio strategies in new LDI approach
Italy’s largest pension scheme is splitting its assets into two macro portfolios
MN to support Follow This resolution at Shell AGM
MN’s main explanation for its voting intention is that Shell’s 20-30% liquefied natural gas growth doesn’t align with the Paris Climate Agreement
Denmark must make forestry more appealing for investors, says IPD
Pensions lobby responds to official climate report on Denmark’s future land use, which concludes afforestation needed
Church Commissioners appoints ‘planet lead’
Laura Moss-Bromage will design and lead the Church Commissioners’ portfolio-wide biodiversity strategy
BaFin deems costs reporting for occupational schemes ‘unnecessary’
German regulator’s view clashes with EIOPA’s suggestion to annually report on all costs and charges
Mandate nature transition plans, finance sector urges governments
Although climate transition plans must incorporate nature, there is a specific need for dedicated nature transition plans
ACCESS 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
ESG employees disillusioned as asset managers lose enthusiasm, says headhunter
Senior figures are looking for new sustainability jobs as ‘glitzy marketing spiel’ falls short of reality
Nest Sammelstiftung issues CHF200m private equity tender
Interested applicants have until 10 May to apply
Investors 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
Sampension, KLP says Shell conceded over lobbying after its efforts
Danish, Norwegian pension funds linked up with ACCR to file shareholder proposal for transparency over oil giant’s EM climate and energy lobbying
Italian schemes bolster ESG standards in private equity allocations
Research shows that 57% of Italian institutional investors directly buy private equity products in line with ESG criteria
Pension funds put Paris Agreement alignment ask on Equinor AGM ballot
Norwegian oil company is saying shareholders should vote against the resolution
Time for SBTi to stand aside, says Allianz SI head amid offsets fallout
Science Based Targets initiative (SBTi) caused an uproar earlier this month with an announcement about allowing companies to use ‘environmental attribute certificates’ to abate certain Scope 3 emissions
Germany’s liberal party plan to scrap early retirement rule sparks row with democrats
Social democratic party rejects any proposal to increase retirement age
New head for Austria’s pension advisory board after three-year vacancy
Christine Mayrhuber took over the position this month from its former head Walter Pöltner
Danish watchdog raps two PKA pension funds over private equity
Pension funds’ boards need to be more specific about private equity intentions, FSA tells PKA-run funds
Dutch ‘early birds’ postpone DC transition
Only 10 pension funds are now still scheduled to make the transition to a new DC arrangement by 1 January 2025
Cassa Forense seeks asset managers for investment vehicles worth €4bn
The lawyers scheme is creating the two vehicles to streamline investments and administration of its assets
PLSA calls for superfund regime before establishing public sector consolidator
Association says more time is needed to determine whether public sector consolidator is needed
PPF-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
Rising equity markets spike Dutch funding ratios
ABP and PFZW suffered losses on their government bond portfolios, however, as Dutch and German yields rose
Swiss Fintech Innovations calls for rules to set up pension dashboard
Switzerland currently lacks necessary infrastructure that would make people share personal pension data securely with third-party providers
Private financial sector calls for treaty to end plastic pollution
Treaty should include harmonised targets across plastics value chain and ensure that companies assess and disclose plastic-related risks and opportunities
NBIM misses benchmark in Q1 on drag from real estate
Tangen boasts biggest-ever quarterly gain in kroner for the Norwegian sovereign wealth fund
EU single market report drafts road map for Savings and Investments Union
Report written by former Italian prime minister Enrico Letta recommends changes to unlock €33trn of private savings
Pension funds press TotalEnergies to improve governance
AGM resolution challenges Patrick Pouyanné, who holds both positions of CEO and chair of board of directors
Alecta, APK back $436m Amundi-IFC impact-oriented EM bond fund
Public-private partnership aims to encourage issuance of green, social and sustainability-linked bonds in emerging markets
Asset owners launch pilot for sovereign climate engagement
NZAOA also expands work on private markets in new target-setting rules
People moves: PGGM appoints Lars Dijkstra as interim CIO
Plus: UK’s Smart Pensions names business development director; Switzerland’s Publica picks head of pension provision
FTSE350 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
Italian pension funds face competition on private assets investments
Current rules and lack of political support can hinder pension funds’ plans to increase private markets commitments
Shell 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
Huge amount of work left for schemes ahead of pension dashboards launch
LCP’s survey found that only 39% of its webinar attendees had prepared pensions dashboard ‘project plan’
European financial market authorities set priorities for macro-prudential approach
Austrian FMA, Italian CONSOB, Spanish CNMV and French AMF have identified five key priorities
Publica sets up bespoke ESG benchmarks for EM government bonds
It worked with 17 asset managers on guidelines intended to increase transparency on ESG for investments in corporate loans, infrastructure, and real estate mortgages
FRR nets 9.68% in 2023 as return asset boost brings H2 benefits
Reserve fund also announces that CIO Salwa Boussoukaya-Nasr has been appointed to executive board
TPR’s Statement of Strategy will be challenging and costly for UK schemes
Completing the template as proposed will create a lot of extra work and could add 20% to scheme valuation costs
Dutch pension funds cannot reduce risk without limits, says regulator
Many Dutch schemes plan to dial down investment risk to protect their funding ratios in the run-up to the pension transition
Clean Energy Financing Ratio set to be key theme this AGM season
MSCI found that nearly 60% of listed companies are disclosing their Scope 1 and 2 emissions, an increase of 16 percentage points in two years
Germany’s FDP proposes reworking pension reform with flexible retirement age
Comments made by Christian Dürr, head of the liberal party’s parliamentary group, add a further source of attrition on pension policy among coalition partners
Tangen’s hopes dashed for SWF’s timely private equity debut
Norwegian government refuses to allow NBIM to add unlisted equity to GPFG’s asset mix for now, but moves to gather more information on the idea
Credit Suisse Pensionskasse adjusts plans following UBS integration
Credit Suisse’s scheme will close down 1e pension plans
WTW to launch private equity LTAF with £450m of commitments
WTW is targeting £2bn for its new open ended fund
Grant Thornton Pensions Fund appoints Cardano as fiduciary manager
Cardano will provide services including investment advice, investment management, and risk management for the £250m scheme
Alecta hires Karin Cederbaum as new legal chief
Swedish occupational pensions heavyweight picks new general counsel with legal leadership experience from Skandia and Swedbank
Italian pension schemes reap benefits of banks’ equity investments
The Bank of Italy has distributed dividends to shareholders, including pension funds, for a total amount of €340m
Robeco to start with Asia for new climate transition investing strategies
Dutch asset manager says it is introducing investing in transition assets in public markets
Industry provides further backing for PPF endgame role
The consultation on DB surplus extraction and the public sector consolidator operated by PPF closes on 19 April
Italy economy minister calls for institutional fund of funds
Structural changes are necessary to reduce the fragmentation of the investments in Italy, says finance ministry’s undersecretary Federico Freni