Investor Strategy – Page 39
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NewsUK schemes preparing for endgame with equity cuts and liability hedges
Aon survey shows pension funds are stepping up de-risking activity and allocating more to alternative asset classes
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NewsClimate change: PRI develops ‘inevitable policy response’ forecast
The PRI has commissioned research forecasting the nature and financial impacts of a forceful and disorderly government response to climate change by 2025
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NEST to launch regulated investment arm
The £8bn multi-employer scheme has requested authorisation from the UK regulator to set up NEST Invest to allow co-investments and derivatives use
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NewsNEST names managers for first move into private markets
Amundi and BlackRock will manage roughly 5% of the DC master trust’s default funds with inflows expected to start in October
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NewsCould holding negative-yielding bonds clash with fiduciary duty?
Cambridge Associates says trustees and pension fund managers should review LDI mandates and passive government bond allocations
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NewsDisabled workers’ scheme switches to ‘cheaper’ passive strategy
The €8.5bn PWRI is also aiming to expand its responsible investing strategy and has added to allocations to green bonds and its ‘inclusion portfolio’
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€2.2bn scheme tightens manager constraints after regulatory intervention
De Nederlandsche Bank stepped in to demand changes to Pensioenfonds Atos’ investment strategy and governance processes
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Dutch regulator’s pension fund aims for 30% outperformance on ESG
Pensioenfonds De Nederlandsche Bank also plans to reduce its carbon footprint by 10% relative to benchmark, and cut controversial weapons and tobacco from its investment universe
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KPN scheme ups fixed income holdings after difficult 2018
The €10.2bn KPN Pensioenfonds cuts strategic allocation to securities in favour of fixed income, and has allocated to green bonds
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‘Link investment policies to scheme demographics’, says trustee
Schemes’ investment policies should be geared to the age of a scheme’s population, says Dutch pension trustee Paul de Geus
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Chart of the Week: How Europe’s pension funds performed in H1
Double-digit investment performance has not lightened the mood as Dutch pension funds face benefit cuts and others warn of turbulent times ahead
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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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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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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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Italian roundup: Fonchim offers five mandates worth €1.75bn
Utilities sector fund Pegaso seeks consultant; Media industry fund tenders mandates for equity and bond managers
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£22bn UK pension fund ‘should divest from fossil fuels now’, say protesters
Campaigners gather outside Greater Manchester Pension Fund’s office, but scheme argues it is already ‘working hard’ to achieve climate risk goals
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Dutch schemes cut back tracker holdings to comply with ESG policy
The collective DC schemes for ING and NN plan to reduce their exposure to trackers such as exchange-traded funds in order to avoid investing in excluded companies
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LGPS pool targets £10bn with private markets programme
Border to Coast Pensions Partnership has launched a £500m private equity vehicle and a £675m infrastructure fund for its 12 LGPS clients
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NewsPensionDanmark, Industriens return to PRI after 2013 spat
All six Danish pension funds that exited the PRI six years ago have now returned as signatories in the wake of a governance review
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NewsDutch doctors’ scheme ditches commodities following review
The €11bn SPH has also cut its allocation to Chinese equities, preferring broader allocations to emerging markets
