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Latest Investment news
BlackRock’s Larry Fink: AI could deepen inequality without broader investor inclusion
In his latest annual letter to investors and shareholders, the BlackRock chairman and chief executive argued that considerations around the use of AI should not just include how such technology might affect jobs, but also who stands to benefit from the value it creates.
Peers vote to scrap mandation power from Pension Schemes Bill
Trade body Pensions UK has welcomed the vote as “a win for savers”, as members of the House of Lords voted in favour of significant changes to the bill.
UK pension investors cut US exposures amid global volatility [updated]
Research from Nuveen shows asset owners continue to reassess allocations to US assets amid geopolitical uncertainty and a trend towards deglobalisation.
Statutory guidance for fiduciary duty added to Pension Schemes Bill
Proposed amendments to the Pension Schemes Bill allow for the government to issue guidance in relation to schemes’ investment principles and fiduciary duty.
Public distrust piles pressure on government to drop mandation power
Narrowing the mandation clause may not be enough to solve potential trust issues, according to the Association of British Insurers.
Volatility, value, and venture: Top stories from the Pensions UK Investment Conference
Pensions Expert picks the top stories from a busy week, from the pensions minister’s latest update on mandation, to how the biggest schemes are tackling volatility and uncertainty.
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.
Private markets latest
Mapping the future of pension investment
Former Australian pensions minister Nick Sherry and World Pensions Forum director M Nicolas J Firzli explain their new model for visualising the future of asset allocation as interest in private markets and productive finance increases.
UK pension investors cut US exposures amid global volatility [updated]
Research from Nuveen shows asset owners continue to reassess allocations to US assets amid geopolitical uncertainty and a trend towards deglobalisation.
Government bodies advocate ‘significant’ opportunity in venture capital
Senior representatives from the Office for Investment, the British Business Bank, and the National Wealth Fund sought to flesh out the investment narrative and explain why pension funds should be confident about investing in UK private markets.
Scottish Widows buys into private markets through new master trust strategies
The master trust provider has launched two new investment portfolios with exposure to private markets through bespoke long-term asset funds.
ESG and sustainability
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.
Climate change and fiduciary duty: how can trustees plan for an uncertain future?
What will be the financial impact of global temperature increases? Predicting the future is uncertain, but it doesn’t mean pension schemes can afford to put it off until later, writes Authently’s David Kneale.
The Friday Takeaway: Fiduciary duty calls
A worrying new climate change report should have the whole pensions sector thinking hard about their long-term strategies and what is in members’ and savers’ best interests, writes Pensions Expert editor Nick Reeve.
Climate change economic impact underestimated, IFoA report warns
A new report from the Institute and Faculty of Actuaries and the University of Exeter has painted a stark picture of the significant negative impact of climate change on the global economy.
Consultants news
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.
Isio appoints former Vidett co-CEO as part of boost to senior team
The hires of Naomi L’Estrange and Gareth Roberts to senior positions highlight the company’s growth ambitions following last year’s strategic investment by private equity firm Aquiline.