Thales ups alts for predictable cash flows

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Trustees of the Thales defined benefit pension fund have taken steps to move away from listed equities and increased the scheme’s exposure to investments with more predictable cash flows.

Lambeth invests in multi-asset credit

The London Borough of Lambeth Pension Fund has invested around £75m into multi-asset credit from its corporate bonds allocation. It is also weighing up investment in private debt alongside other Local Government Pension Schemes.

BBC matches cash flows after strong 2017 returns

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The BBC Pension Scheme has slashed its exposure to equity markets, in an attempt to lock in recent outperformance with liability-driven investment, private credit and alternative matching assets.

How will scheme exposure to real estate evolve post-Brexit?

The UK's vote to leave the EU has led to a difficult cycle for real estate, so should trustees be concerned about their UK property holdings?  

LGPS pools see opportunity in housebuilding push

Chairs of Local Government Pension Scheme asset pools have stated their willingness to provide capital for housebuilding in the UK, but insisted any real estate investments will be viewed through a financial, rather than a political, lens.

ESG confusion hindering smaller schemes

Smaller pension schemes lack the governance, investment choice and concrete understanding required to properly engage with environmental, social and governance factors, according to the Pensions Policy Institute.

How should scheme liabilities be measured?

Analysis: The industry is unlikely to ever reach a consensus over the methods of scheme liability valuation, judging by the lively debate surrounding the subject.

Transaction costs make up quarter of management fees

Some of the largest pension funds in the world are paying an average of 86.3 basis points in total annual investment costs, with 24 per cent of these fees made up of transaction costs, according to new research.

Kent cuts passive equities for private equity and infra

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The £6.2bn Kent County Council Superannuation Fund has moved capital from UK passive equities into private equity and infrastructure. The fund narrowly missed its benchmark for returns in the year to March 2018, after underperformance from equity and fixed income mandates.

Islington scheme to wind down carbon investment

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The London Borough of Islington Pension Fund has agreed to reduce its investment in fossil fuels, following lobbying efforts from local environmental activist group Fossil Free Islington.