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Latest Investment news
LGPS funds and Railpen to vote against BP chair at oil giant’s AGM
Railpen and the Local Authority Pension Fund Forum have signalled their intention to vote against the reappointment of Albert Manifold at BP’s annual general meeting on 23 April.
Nest awards £450m direct lending mandate amid private markets push
The mandate will see Nest deploy capital over “multiple years”, as it aims to allocate as much as 30% of its assets to private markets by 2030.
Conservatives slam ‘indefensible’ reserve clause as it returns to Pension Schemes Bill
Shadow work and pensions secretary Helen Whately has hit out at the restored amendment, arguing that it is “still a political hand reaching into people’s retirement savings”.
Sustainability and climate expectations rising for investment consultants
The Investment Consultants Sustainability Working Group (ICSWG) has found that climate-related advisory capabilities, which were once viewed as aspirational, are now considered standard practice across the investment consulting industry.
How geopolitics could hurt your scheme’s covenant
As the US-Iran conflict takes another turn, consultancy group LCP has warned that pension scheme trustees need to be aware of the potential impact of geopolitical issues on sponsor covenants.
DC schemes back British Business Bank’s £200m venture capital fund
Aegon and the Natwest Cushon master trust have finalised investments in the British Growth Partnership Fund, contributing to a £200m capital raise for the venture capital vehicle.
LGPS latest: West Midlands’ £1.1bn regional drive; LGPS Central backs Yorkshire Water
A roundup of the latest investment headlines from the Local Government Pension Scheme, brought to you by Pensons Expert’s sister title LAPF Investments.
Private markets latest
Nest awards £450m direct lending mandate amid private markets push
The mandate will see Nest deploy capital over “multiple years”, as it aims to allocate as much as 30% of its assets to private markets by 2030.
DC schemes back British Business Bank’s £200m venture capital fund
Aegon and the Natwest Cushon master trust have finalised investments in the British Growth Partnership Fund, contributing to a £200m capital raise for the venture capital vehicle.
USS steps up residential push with stake in private credit manager Venn Partners
The UK’s largest pension fund intends to invest more in the UK residential property sector, with the acquisition following two other significant lending projects.
How alts and active management aid Australian pension outperformance
With Australia’s superannuation system repeatedly held up as a model for UK defined contribution pension provision, a new study shows the impact of diversification into private markets and the use of active management models.
ESG and sustainability
Sustainability and climate expectations rising for investment consultants
The Investment Consultants Sustainability Working Group (ICSWG) has found that climate-related advisory capabilities, which were once viewed as aspirational, are now considered standard practice across the investment consulting industry.
Climate risks ‘still mispriced’ despite $1.3trn corporate exposure
A report developed by Marsh Risk and Impax Asset Management warns that physical climate risks are already affecting portfolios through asset damage, supply chain disruption, and impaired company performance.
CofE to target banks in new climate change voting strategy
The institution’s announcement has been welcomed by campaign group ShareAction and comes as multiple banks have watered down their climate change strategies in recent months.
Nest pledges action against corporate climate plan rollbacks
The master trust will vote against board chairs if companies “materially” scale back climate strategies, as part of a new approach to stewardship.
Is ESG investing in the best interests of pension scheme members? [Updated]
Former Green Party leader Caroline Lucas and ex-cabinet minister Michael Gove debated climate change investing and fiduciary duty in a session at the Pensions UK Investment Conference.
Nest launches tender for segregated ethical equity mandate
Nest’s Ethical Fund currently has £260m invested in ethical equities, as the master trust launches a search for a bespoke segregated mandate manager.
Consultants news
Sustainability and climate expectations rising for investment consultants
The Investment Consultants Sustainability Working Group (ICSWG) has found that climate-related advisory capabilities, which were once viewed as aspirational, are now considered standard practice across the investment consulting industry.
First Actuarial acquires employee benefits client book from EBP
First Actuarial has acquired a book of almost 70 employee benefit clients from a small employee benefits adviser after two of its three directors decided to retire and dissolve their partnership.
Independent Governance Group buys KGC to boost governance services
The professional trustee and services firm has acquired governance consulting specialist KGC Associates, led by managing director Kim Gubler.