Pension funds need to respond to a regime change from the low-growth, low-inflation environment that suited bonds and bond proxy equities, to a reflationary/inflationary one that will suit cyclicals, energy and materials, and value stocks in particular, warns Ian Lance, co-manager of the Temple Bar Investment Trust.

While considering that pension schemes are not philanthropists, Impact Investing Institute chief executive Sarah Gordon believes pension funds should invest in businesses that deliver positive impact, as these are more likely to produce genuinely sustainable profit streams.

The UK’s collective action regime has received a powerful boost from a recent judgment, which is good news for pension funds as they stand to benefit from collective actions, say former inquiry chair at the Competition and Markets Authority Phillip Evans and Hausfeld & Co partner David Lawne.

The Pensions Administration Standards Association’s board director, Girish Menezes, suggests a seven-step strategy to bring the pensions industry into the 21st century, as members will expect a transition to online par with other financial industries.

Sackers senior associate Emily Rowley describes a series of practical steps trustees should consider if they want to increase the diversity of their board.

Nest’s new head of long-term investment strategy, Liz Fernando, explores some underappreciated asset classes that could prove fruitful for pension fund investors in the years ahead.

Data crunch: Chris Sier runs the rule over the government’s response to the ‘Review of the default fund charge cap and standardised cost disclosure’ and asks whether voluntary submission of cost and performance data by asset managers is the way forward.

Cosan Consulting director Philip Dickinson warns trustees about the importance of having an administration contingency plan in place as this task, either performed in-house or outsourced, could suffer with the current pandemic and financial crisis.

Impact Investing Institute chief executive Sarah Gordon details recent innovations in the social market driven by the pandemic, and explains how the social sector is increasingly using capital markets to achieve its objectives.