Fidelity International to integrate private markets assets into default investment strategy
The circa 15% allocation by Fidelity’s FutureWise fund will be the first into its recently approved Long-Term Asset Fund
Key benefit of Iceland’s additional pension extended ahead of election
Almenni board member says government would need to provide clear legislation in order for auto-enrolment of additional pension to work
VBL picks Nordea to invest €1.25bn in Paris-aligned equities
The fund is pursuing an ambitious CO2 reduction target as it aims to cut greenhouse gas emissions by 7% per year
Absence of further guidance on surplus sharing for UK DB schemes is ‘missed opportunity’
Industry commentators say government should tap into corporate DB pension sector for capital investment into UK
BP to repatriate Dutch pensions from Belgium
The fund is also considering a buyout to a Dutch insurer for its Belgium-based DB accruals
German bank Berenberg, Lurse join forces to set up OCIO provider
The two firms are merging their respective company pension solutions to create specialised OCIO provider for asset allocation of company pension schemes
PensionsEurope warns SFDR costs could lower future pension payments
New categories being discussed include ‘transition’ and ‘impact’
Industry calls for thoughtful execution of UK LGPS ‘megafunds’ reforms
Government is looking to secure more than £20bn for investment in local communities
NBIM revamps, shifts focus from real assets to energy and active management
Real assets CIO Mie Holstad quits as all areas of active management brought under one umbrella
Baillie Gifford ditches climate collaborations over ‘contested membership’
‘Our membership has become contested, and this risks distracting from our core responsibilities,’ the firm says
Church investors push for faith-aligned investments
The Church Investors Group has called on asset managers to have ‘more room for faith’ as it publishes new guide to faith-consistent investing
ABP president named top climate leader in Time magazine
Harmen van Wijnen is the only pension executive in the Time100 Climate 2024
UN expert group calls for major financial transformation to meet climate goals
Independent High Level Expert Group (IHLEG) on Climate Finance has urged for a greater focus on catalytic and blended finance
First Dutch pension fund gets go-ahead for DC switch
The pension fund for Dutch shipping pilots is the first to receive regulator’s blessing to convert DB accruals to new DC arrangement as of 1 January 2025
Aegon, NatWest Cushon commit to help with British Growth Partnership launch
Chancellor has previously tasked British Business Bank with establishing the British Growth Partnership
German pensions industry pins hope on next cabinet for second pillar reform
Germany’s occupational pension industry has been let down by the sudden halt of the second pillar pension system reform process, triggered by a political crisis, as it pins its hope on the next government to build on the groundwork laid out so far.
British Business Bank completes £250m LIFTS investment with Schroders Capital
The fund aims to catalyse more than £1bn of funding, including from UK pension funds
Hapag-Lloyd, Evonik switch to defined contribution plans
Existing occupational pension contracts for senior people and captains of Hapag-Lloyd will remain in place, despite the DC switch
UK government proposes pension reforms to unlock £80bn of investment
Government proposes merging LGPS assets and consolidating DC schemes into super funds
EU to use de-risking tools to encourage investors to finance green industrial deal
Commissioner-designate Stéphane Séjourné says ‘winning the investment battle is all about making sure public investment drives the real economy’
Local Pensions Partnership Investments hits £200m cost savings
CEO Chris Rule says greater pooling of funds could help deliver scale and better cost savings
G4S Pension Scheme completes £1.8bn buy-in deal with Just Group
The scheme’s funding level had improved in recent years, enabling the trustee and company to accelerate de-risking plans
AMF finds banks increasingly luring its pension clients with mortgage discounts
Swedish blue-collar pension fund says occupational pension seen more and more as ‘commodity to be exchanged for temporary discounts’
Report analyses 1000+ private-sector climate policies
Helena Viñes Fiestas, co-chair of the Taskforce on Net Zero Policy, says ‘the voice of long-term asset owners isn’t being properly heard’
People moves: DWS Group combines three units under new global CIO
Plus: Ortec Finance expands board; Swedish Fund Selection Agency adds to strategy and business development team
Institutional investors back EU deforestation regulation
The group is calling on the European Parliament to reject the European Commission’s proposal for a 1-year delay
Swiss pension funds call for review of ESG reporting standards
Swiss schemes have faced challenges with data collection, processing and consolidation when reporting for the first time
Median investment fees for fiduciary management fall by over 50%
A significant driver in this fall has been price competition between fiduciary managers as they have sought more cost-effective ways to implement investment strategies
German SMEs sceptical of DC plans without guarantees
The majority of SMEs is in favour of guaranteed benefits that are primarily intended to support low earners, part-time workers or young professionals
ISSB reports progress in global sustainability reporting
More than 1,000 companies worldwide have reported on their sustainability impact using the ISSB norms
UK regulator opts for ‘sustainable value’ in draft new stewardship definition
FRC drops explicit ‘environment and society’ references in draft new definition for UK Stewardship Code
German liberal party axes first pillar pension reform package
Labour minister Hubertus Heil says his party SPD ‘will fight’ to find a majority in Parliament to approve the reform package before elections on 23 February 2025
Governments and investors call for some coal projects to be labelled ‘transition finance’
The Coal Transition Commission has published recommendations to accelerate the shift from coal to clean energy in line with the goals of Paris Agreement
Italian pension funds look to expand voting, engagement next year
Assofondipensione’s goal is to also be able to vote in companies in the US and Canada
ISSB research maps diversity in BEES, human capital reporting
This diversity could open the door to ISSB consolidating this landscape through its policy of setting a global baseline in sustainability disclosures
Iceland’s pension funds reject idea of subjecting them to bank rules
Central bank says given expected growth of pension funds, they should have rich opportunities for investing in diverse assets at home and abroad
Church Commissioners urge governments to enact policies supporting 1.5°C pathway
NZAOA wants to see countries submit ambitious Nationally Determined Contributions in line with the 1.5°C pathway
Fondo Espero picks Eurizon to run new ‘Dinamico’ sub-fund
The pension fund has set up the new ‘Dinamico’ option for riskier investments, in addition to a life cycle investment option
CA100+ drives climate targets but not decarbonisation, finds research
Analysis looks at whether climate improvements made by listed companies are the result of collaborative stewardship efforts, or simply a reflection of a broader global trend
Dutch pension funds increase short-term holdings
The increased liquidity reserves risk negatively impacting long-term returns, signals regulator DNB
Aba looks beyond snap elections for comprehensive pensions reform
Germany’s three reform packages for public, occupational and private pensions are currently at different stages of the legislative process
Swiss government assesses 71 pension funds on climate
More than 60% of respondents have partially integrated a net zero target into internal strategy, however, only just under a third have publicly committed to it, says report
Varma bemoans scant plans by high-risk firms around biodiversity loss
Finnish pension provider says survey of attitudes among electricity mining, food companies, and others, shows only 9% have biodiversity action plan
Transition to DC plans by German firms almost complete, says WTW
Survey shows that 97% of firms in Germany now offer a defined contribution option
Swedish FSA warns of risks for consumers as Q1 pension transfers hit €2bn
Watchdog calls occupational pension majors to its HQ to talk about putting consumer needs first when moving pensions
Dutch funds Yara and Calpam conclude buyouts
The buyouts come shortly after several other company schemes decided to go for other options
Swiss government backs opposing tax rules on pensions
Backing law that allows retroactive payments of pension contributions contrasts with government’s plan to increase taxes on savings withdrawals
Icelandic pension funds call for auto-enrolment of additional pension
Leaders at Frjalsi and Almenni pension funds argue participation in the 25-year-old scheme should be boosted by employers signing staff up as the default
EIOPA calls for special rules on insurers’ fossil fuel assets to manage transition risks
EIOPA is proposing a 17% capital surcharge on fossil fuel equity holdings and up to 40% for related corporate bonds
TPT Investment Management launches LDI solution for DB schemes
Solution is designed to enable schemes to implement robust long-term funding strategies focused on their endgame objectives
