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The Weekly Wrap: April 21 edition

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A round-up of the pension stories published across the FT Group this week, from investors being charged by fund managers for external research, to Greece agreeing a package of pension reforms.

Pension schemes need to rethink portfolio construction

Barber, Jill (teaser)

From the blog: Traditionally, for pension funds to provide a secure income in retirement, investments were viewed through an asset class lens.

 

Fixed income delivered the safe income, while equity exposure provided the growth engine within the portfolio.

 

And over time we saw the addition of alternative assets classes such as property, infrastructure and hedge funds as they developed.

 

Click here to read the full blog post

Post Office surplus raises union affordability complaints

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The Post Office section of the Royal Mail Pension Plan remains in surplus, its latest funding update shows, just weeks after it was closed to future accrual amid union consternation.

The Weekly Wrap: April 13 edition

Bloomberg

A round-up of the pensions industry stories published across the FT Group this week, from the 7-Eleven store chain coming under scrutiny down under, to BlackRock looking to give the iShares brand an index fund boost.

Why you should look again at LDI

Shajahan Alam

From the blog: Anecdotal evidence says many UK pension schemes have earnestly considered LDI yet not actually invested. But why? Let’s look at some of the reasons that may be causing those schemes to sit on the sidelines.

 

Despite the common view that yields are too low and will rise in due course, the long-term history of UK gilt yields shows a dramatically different possibility – that the high yields in the 1970s and 1990s were not the norm.

  

Click here to read the full blog post

Invensys attempts to reconcile GMPs delayed by HMRC

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Slow responses from HM Revenue & Customs are delaying efforts by the Invensys Pension Scheme to reconcile guaranteed minimum pensions, the scheme’s trustees have told members.

The Weekly Wrap: April 7 edition

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A round-up of the pensions industry stories published across the FT Group this week, from deepening deficits at US public schemes, to China’s largest fund upping its game on manager monitoring.

The risks of poor data governance

Claire Court

From the blog: Just when personal pension scheme administrators thought they understood and could confidently respond to the Financial Conduct Authority’s reporting requirements on members’ use of pension freedoms, the goalposts have been moved again.

 

An email sent to firms by the FCA’s market intelligence and data analysis department in February outlined changes to reporting requirements for the six months ending March 31 2017.

 

While there are a number of ‘improvements’ to the type and format of the data requested, it still gave those firms barely two months to both check their data are in order and then work out how best to analyse these and respond.

 

Click here to read the full blog post

Raising debt to fund pensions - what to bear in mind

Jacqui Woodward

From the blog: FTSE engineering company GKN might consider issuing bonds of up to £250m in order to help finance its UK pension deficit, it has recently been reported in the Times.

  

If the company were to fund the schemes’ deficits via the issue of bonds, it would be swapping one form of debt for another.

 

Click here to read the full blog post

PIPA 2017: Have you made the shortlist?

PIPA 2017

Find out who is shortlisted for the 18th annual Pension and Investment Provider Awards organised by Pensions Expert. The winners will be announced at an exclusive black tie dinner at the Sheraton Park Lane Hotel in London on May 24.

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