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UK roundup: TUI trust strikes £800m buy-in pair, Lothian names new CEO
Long-term goal for TUI Group UK Pension Trust is full insurance
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First quarter sees uptick in sustainability bonds
Market represents a lower proportion of wider bond markets, despite recent growth in issuance
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UK travel firm TUI adds to Dutch closure with PIE, shift to DC
TUI Travel offers pensioners incentive to remove future increase, closes Norwegian scheme
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UK travel firm TUI plugs pension fund deficit with brand names
After negotiating deal for two years, company becomes first in UK to use intangible assets to plug £400m deficit.
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Germany’s TUI shifts pension expectations
GERMANY – Tourism and transport giant TUI has revised upwards its actuarial expectations about future pension increases at its German schemes.
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ESG: Interview - ShareAction’s Catherine Howarth on the cost of living crisis
“There’s going to be a good deal more scrutiny on the way the private sector behaves,” says the CEO of ShareAction, a London-based non-profit that coordinates investors and lenders on sustainability issues.
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Books: It all boils down to the three Ds
Paul Marshall’s pocket guide to fund management covers multiple subjects, each of which really deserves its own book. Nonetheless, he writes well, and has produced a diverse and entertaining work.
- Asset Manager News
KGAL Acquires the Skyline Office Complex in Vienna
KGAL further expands its sizeable real estate Austrian footprint within the Vienna office market with the acquisition of Skyline Office.
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CPPIB, Cinven check in to hotel 'bedbank' group
Partnership invests in Spanish-based firm with inventory of 75,000 hotels
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USS buys stake in air traffic control business NATS
UK’s second-largest DB fund continues to grow infrastructure holdings following Heathrow deal
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UK roundup: Hounslow, Manifest, auto-enrolment, LCP, Britannia
Local authority pension scheme for Hounslow tenders for new proxy voting company.
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UK pension funds' use of 'contingent assets' up by 20%
Pension Protection Fund says number of recognised assets grew by 150 to 900 in 2011-12.
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Companies with large pension deficits underperform, says Morgan Stanley
EUROPE – Companies with big deficits underperform MSCI Europe average by more than 25%.
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Morgan Stanley survey reveals firms with largest pension liabilities
EUROPE – Alcatel Lucent has largest liability as percentage of market cap – 140%.
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Irish pension levy reaches final stage
[16:45 CET 25-02] IRELAND – The final stages of legislation allowing a pension levy on public sector workers to be introduced next month is expected to be completed in the Dáil tonight, as trade unions prepare to ballot members over industrial action.
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Teachers to take action over Irish levy
[7:10 CEt 09-03] IRELAND – Members of three teachers unions have voted in favour of industrial action, including strikes, over the government's handling of the economic crisis including the introduction of the "pension levy".
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Irish public sector workers plan action over levy
[16:45 CET 16:45] IRELAND – Irish public sector trade unions have warned they are “not ruling anything out” in reaction to government plans to introduce an average public service pension levy of 7.5% on €50,000 earnings.
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UK roundup: KPMG, Mercer, Chatham Partners
Asset-backed contributions account for one-fifth of deficit reduction payments, says KPMG.
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UK roundup: Kingfisher, Wedlake Bell, ATP, Now Pensions, Xafinity
Kingfisher pays DB scheme £100m (€114m), allowing trustees to invest in property partnership.
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ICTU calls off pension strike to enter talks
[16:40 CET 26-03] IRELAND – The Irish Congress of Trade Unions (ICTU) has called off next week's planned one-day national strike over pensions, and is returning to talks with the government over the development of an "integrated national response".