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
Share of Swiss underfunded pension funds shrinks to 7%
Occupational pensions regulator deems schemes’ financial situation solid to face geopolitical tensions this year
German corporate schemes prepare for market risks
The amount of pension obligations on the books of companies listed on the DAX rose by 5.6 percent to €332bn, says Aon
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
SFDR feedback report confirms market split over labelling categories
Feedback summary report shows market is undecided over what it wants from next steps for Sustainable Finance Disclosure Regulation (SFDR)
Swiss Parliament pushes discussion on pension funds’ cost transparency
Improving access to information would strengthen competition in an extremely sluggish market, according to parliamentary motion
Swedish, Finnish real pension returns hit hardest by inflation last year
Finnish Centre for Pensions uses average monthly inflation figures to compare real pension investor returns, revealing Sweden and Finland were worst hit in international comparison
Asset managers expect MIFID II changes to remove operational barriers – survey
Substantive Research finds that 85% of surveyed managers currently operate on the P&L research funding model
AP4 ‘does not agree’ with Glass Lewis, ISS Shell climate resolution advice
AP4 is one of 27 institutional investors who co-filed the shareholder resolution with activist group Follow This
BVCA calls for pensions investment roadmap to increase UK investment
BVCA latest report shows investment by private equity and venture capital in UK businesses fell to £20.1bn in 2023
Divestment rules for long-term savings plans lead to ‘operational complexity’
Inarcassa asked the tax authority in Italy, the Revenue Agency (Agenzia delle Entrate), to clarify rules on capital repayments made by closed AIFs
CA100+ drives reduction in corporate climate waffle, study finds
A high proportion of non-specific information – or ‘cheap talk’ – in climate commitments shows companies are not genuinely committed to significantly reducing greenhouse gas emissions
EU mulls lower capital charges for blended finance
Commission urged to reclassify public-private investments to bolster SDG-related capital flows
Swiss schemes turn to corporate bonds as currency hedging costs rise
Currency hedging costs in the bond markets US and EU government bonds less attractive for the pension funds, says Complementa
Siemens Investor Plan appoints Standard Life as master trust provider
Over 30,000 Siemens members move to Standard Life master trust
EFRAG, ISSB release joint guidance on sustainability reporting
The new document is designed to address complexities and reduce duplication in sustainability reporting
TPR focuses on driving consolidation in new corporate plan
‘Our focus is not just on the fundamentals of driving high levels of compliance, but also working together to enhance the system and support innovation in savers’ interests’
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
Ethos and investors coalition turn to court as TotalEnergies throws out resolution
Ethos Foundation bewails French oil and gas giant’s ‘flagrant disregard’ for shareholder rights
PKBS cuts insurance-linked securities for fixed income, domestic property
teh scheme’s ILS active portfolio posted returns of -4.98% last year
Swiss schemes see ‘significant improvement’ in Q1 funding ratios, says Swisscanto
Almost all pension funds have now reached a 100% funding ratio, and only 0.2% remain underfunded
ISSB’s digital taxonomy to help investors assess sustainability disclosures
The ISSB Taxonomy will enable investors to search, extract and compare sustainability-related financial disclosures as ISSB establishes its global baseline of standards
Janus Henderson enters European ETF market, while Crédit Mutuel and La Française merge
$335bn Janus Henderson already has a successful active proposition in the US
UK defined benefit schemes overspend £300m each year, report finds
Spence & Partners has calculated that removing inefficiencies could save an average 1,000-member scheme £105,000 per year in running costs
Shell investors urge peers over climate resolution
Votes cast will ‘resonate across the fossil fuel industry’, say major Shell investors in a briefing for their peers
ASIP’s director points finger at ‘double game’ played by unions in pensions reform
Lukas Müller-Brunner says poverty in old age has fallen dramatically largely thanks to occupational pension provisions
People moves: Former NEST chief joins Standard Life Master Trust board
Plus: Royal London restructures global equity team
Germany’s BVK redefines macro allocations in new investment strategy
As part of its its strategic asset allocation, the fund plans to invest in timber looking at ‘evergreen structures’
UK equity disclosure enforcement could contradict Value for Money framework
SPP questions whether pension funds should invest in British businesses when knowing that such investment may produce worse returns than investing overseas
CBI, CSSF finalise yield buffer rules for sterling LDI funds
Measures complement guidance issued by UK regulators in wake of UK LDI crisis
German finance ministry ups maximum interest rate
The rate, used to calculate the amount of reserve funds for pension payouts, is increasing to 1% from the current 0.25%, from 2025 – the first increase in 30 years
Sweden’s FTN in third tender launch, for Nordic large-cap, small-cap
Procurement agency sets 10 June deadline for bidders looking to win slice of SEK18bn of premium pensions assets
ABP to reduce investments in emerging markets
The fund believes it no longer pays to be overweight the region given the expected returns for emerging market assets
Enel KPI miss ‘a watershed moment’ for sustainability-linked bond market
Price reaction was swift, with the affected SLBs outperforming unaffected Enel instruments by 0.59% on average
Fiduciary managers’ growth portfolios underperform their target returns
XPS survey finds that majority of fiduciary managers’ growth portfolios underperformed their target returns by 3% or more
Small DB schemes unlikely to run on beyond buyout funding level due to costs
Hymans Robertson finds that the cost of running a small DB scheme is four times the cost of running a large scheme
ÄVWL’s CEO Christian Mosel departs for early retirement
The CEO’s exit was due to a confidential personal matter
Article 9 funds outflows continue amid ongoing regulatory uncertainty
Flows into Article 8 funds rebounded after three quarters of outflows
Fiera Capital makes Benelux, Nordics move
Jeroen van Rooij is appointed to the newly-created role of head of Benelux and Nordics distribution
Denmark’s PFA offloads €160m Shell holding after goal weakening
Bessing says still believes Shell better positioned for green transition than vast majority of oil and gas companies
LGPS funding level increases to 106% ahead of next actuarial valuation
LGPS funding level improved from 67% at 31 March 2022 to 106% as at 31 March 2024
German finance minister calls pension funds to invest in domestic growth
Germany needs another Future Financing Act law to mobilise private capital, says finance minister Christian Lindner
The People’s Pension expects ‘adequate’ stewardship resourcing from managers
The People’s Pension has strengthened the expectations of its investment managers in its new responsible investment policy