Top stories
Capacity issues led to delay in Pensions Dashboards Programme
National Audit Office says capacity and capability issues, including lack of digital skills and ineffective governance, have contributed to delays to UK’s PDP
Brightwell drops head of sustainable investment role after Barron exit
BT Pension Scheme has decided not to replace Victoria Barron
Mansion House Compact: spotlight on Aon
Jo Sharples, CIO for Aon’s DC solutions, spoke to IPE about Aon signing up to the compact and how it plans on embarking on a private markets journey
Share of Swiss underfunded pension funds shrinks to 7%
Occupational pensions regulator deems schemes’ financial situation solid to face geopolitical tensions this year
Professional trustee appointments increase marking fourth year of consecutive growth
However, support for member-nominated trustees (MNTs) continues and pension fund boards are encouragedto keep them
German parties urge FDP to end blockade on pension package reform
Germany’s finance minister Christian Lindner has blocked legislative proposals
PGB to focus sustainable investments on biodiversity, food systems
70% of members of the €37bn Dutch multi-sector fund support a focus on sustainability, according to a recent survey
AP7 starts distributing surpluses to savers to keep fees stable
Swedish default fund for premium pension finds solution to excess-money quandary as asset management surpluses grow
Fondo Espero to review investment strategy to set up new sub-fund, life cycle option
Strategic realignment comes after introduction of silent-consent rule to tacitly join the scheme
Investor coalition urges Amazon to ‘come clean’ on workers’ rights issues
The 20-strong global investor group said failure to recognise human rights norms represents a threat to shareholder long-term value
People moves: LGPS Central picks new chief commercial officer
Plus: Chair of Swedish Fund Selection Agency asks for resignation; IFoA appoints president-elect; P+ in Denmark names responsible investments head
Brightwell drops head of sustainable investment role after Barron exit
BT Pension Scheme has decided not to replace Victoria Barron
People moves: LGPS Central picks new chief commercial officer
Plus: Chair of Swedish Fund Selection Agency asks for resignation; IFoA appoints president-elect; P+ in Denmark names responsible investments head
Veritas' Vatanen joins rival Elo as head of asset allocation
As Veritas starts searching for a replaceent, Laura Wickström, portfolio manager, will be acting CIO at Veritas as of 30 April
Striking the right balance on pension funds and fiduciary duty
Pension fund investment principles, strategies and decision-making have all become more complex in the wake of the growth of sustainability factors in general and climate change in particular. This has made the interpretation and practice of trustee ‘fiduciary duties’ more vexed and challenging than ever. A recent review of fiduciary duties in the UK by the Financial Markets Law Committee (FMLC) put it this way: “It is sometimes easier to state the duties than it is to apply them.”
The importance of board decisions in an uncertain world
In the foreword to this new book, the CIO of CERN Pension Fund, Dr Elena Manola-Bonthond, says that, in her experience, investment alpha is scarce and very often difficult to access. It can be costly and its persistence is sometimes questionable. But there are other types of alpha that are more accessible and governance alpha is definitely one of them.
Australia faces up to the cost of pandemic pension early release
Four years after Australians were allowed to withdraw superannuation savings to deal with the economic shock of the COVID-19 pandemic, they now know emergency measures will cost the nation A$85bn (€51bn) in future pension payments.
Mansion House Compact: spotlight on Aon
Jo Sharples, CIO for Aon’s DC solutions, spoke to IPE about Aon signing up to the compact and how it plans on embarking on a private markets journey
Young pension employees clamour for learning and interaction
Many young professionals are deterred from pursuing careers in pensions due to insufficient knowledge and a perceived lack of career progression
Small island states turn to institutional investors to protect oceans
Small island developing states may have a total population of only around 65 million, but through their exclusive economic zones they control about 30% of oceans and seas, according to the International Institute for Sustainable Development (IISD).
Swiss pension funds hold onto private equity investments
Schemes stick to strategic quotas, pushing back on government plans to support local economy
Modelling shows net-zero investing can be profitable
Since the acceptance of the Paris Agreement in 2015, which bound nations to a legal commitment to reduce global temperatures, there has been a clear shift towards net-zero investing. While socially responsible investments are crucial for the mitigation of climate change, recent calls to row back on ESG funds suggest some hesitation.
Thematics Asset Management’s CIO on themes and investment challenges
Out of the 19 boutiques businesses belonging to the Natixis Investment Management franchise, Thematics Asset Management is by no means the smallest, but it is not exactly a juggernaut, managing €3.3bn of assets at the end of last year. Yet, it is actively contributing to what could be a crucial evolutionary step for global investors.
Sweden’s AP3 pension fund and its quest for alpha
Jonas Thulin, recently appointed CIO of Sweden’s Tredje AP-Fonden (AP3), talks to Carlo Svaluto Moreolo about his approach to asset allocation and portfolio management
Merseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
IPE Magazine May 2024
Read the latest issue of IPE Magazine
Browse the digital edition and find highlights from this month's issue below
Digital edition of IPE magazine
May Highlights
Is buyout still the gold standard for UK pension funds?
Improved funding positions mean more DB schemes are considering run-on rather than off-loading their liabilities
European high yield stands its ground
Investors flocked to the European junk bond market last year and despite a strong US economy, there is still appetite for European issuers
Young pension employees clamour for learning and interaction
Many young professionals are deterred from pursuing careers in pensions due to insufficient knowledge and a perceived lack of career progression
Merseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
Pension funds revisit allocations to China
European pension funds have reduced their allocations to China as the outlook for the country’s economy becomes more uncertain
European high yield stands its ground
Investors flocked to the European junk bond market last year and despite a strong US economy, there is still appetite for European issuers
IPE Quest Expectations Indicator - May 2024
EU parliamentary elections are approaching fast. Current polls predict a shift to the right, with the current centrist parties remaining dominant and the extremist right overtaking the Eurosceptics. US President Donald Trump is still liable to be convicted in a criminal case, but his poll figures are rising.
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