Top stories
IIGCC preps expansion of ‘beyond Climate Action 100+’ engagement initiative
Investor signatories of the Net Zero Engagement Initiative have until 31 May to have their say on the company focus list and engagement strategy for the initiative’s second year
Volkswagen’s subsidiary picks MetallRente-Allianz to start DC plan
Aon worked with PowerCo to set up a DC pension plan offering an 80% guarantee on the amount of contributions paid
ESMA publishes final guidance on ESG fund names
In the final guidelines, funds are required to have 80% of their assets allocated to investments aligned with the sustainability objectives of the EU’s SFDR
Bosch Pensionsfonds shifts to new governance model
The aim of the new governance structure is to reinforce the strategic and operational management of the pension fund, says CEO Dirk Jargstorff
Norwegian oil fund drops $400m of stocks on war-linked grounds
NBIM follows advice from its Council on Ethics, and banishes L3Harris, Adani unit and Weichai Power, divesting nearly $400m
Number of DC schemes continues to decline, says UK pensions regulator
Scheme membership has meanwhile grown by more than 12 times since the beginning of 2012, from 2.3 million to 28.8 million
Italian scheme hands over Credit Suisse AM’s mandate to Pictet, Fidelity
Credit Suisse’s portfolio was worth €179m at the end of 2023
People moves: NOW: Pensions names investment director
Plus: New head of private markets for Phoenix Group; Hymans Robertson names head of investment risk transfer
Border to Coast Pensions Partnership expands its private markets programme
Border to Coast Pension Partnership’s private markets programme has grown to £16bn following further commitments from its LGPS partner funds
‘Major improvement’ in sight as EU ministers agree on withholding tax rules
Agreeement on FASTER Directive could be very relevant to the goal of deepening European capital markets
UK’s leadership in sustainable finance under threat, says UKSIF
A new UKSIF report shows that more favourable policies could see up to £100bn AUM shifting towards sustainable finance
People moves: NOW: Pensions names investment director
Plus: New head of private markets for Phoenix Group; Hymans Robertson names head of investment risk transfer
Robeco poaches EMD team from Candriam
The addition of a sovereign emerging market debt strategy ‘is an important step in addressing market demands’, according to the Dutch asset manager
Brightwell drops head of sustainable investment role after Barron exit [updated]
Victoria Barron resigned after four years at the organisation to explore new opportunities in sustainable investment
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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