All corporate bonds articles
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OpinionTurbulent weather ahead for DB schemes
USS Investment Management chief executive Simon Pilcher details the current risks faced by defined benefit schemes, and how an investment strategy should be based on balance, diversification and resilience.
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NewsLDI fund managers look to lower leverage in wake of market turmoil
Managers of liability-driven investments are likely to reduce the level of leverage used in their funds in the aftermath of the Bank of England’s intervention, investment consultants say.
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NewsBoE expands measures to protect schemes from market turmoil
The Bank of England has announced additional measures to support pension funds through the current market turmoil, including an increase in the size of its gilt daily auctions and a temporary initiative to ease liquidity pressure on schemes holding liability-driven investments.
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NewsSchemes urged to revisit buyout plans in rising rate environment
Rising interest rates and the subsequent fall in liability valuations and deficits have now made buyouts more affordable for a larger number of pension funds, with consultants urging schemes to restructure their investment strategy to make it more palatable to an insurance company.
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NewsFTSE 100 schemes hit new record surplus
On the go: FTSE 100 schemes have entered “uncharted territory” after reaching a record combined surplus of £130bn, according to LCP.
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NewsFTSE 100 schemes see surplus hit £100bn record
On the go: Defined benefit schemes sponsored by FTSE 100 companies have seen their surplus on an IAS 19 basis hit a record £100bn in mid-May, according to new analysis.
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NewsFTSE 350 DB deficit reaches two-year low amid bond yield rise
The accounting deficit of the defined benefit schemes of the UK’s 350 biggest public companies fell to £45bn at the end of last month — a level last seen in April 2020.
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NewsAsset manager consolidation and scheme maturation increase fees
On the go: Investment management fees across some asset classes have moved upwards after years of decline, according to new research.
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NewsLondon CIV launches alternative credit fund
On the go: London CIV, which oversees around £26bn on behalf of 32 London Local Government Pension Schemes worth a collective £45bn, has launched its Alternative Credit Fund.
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NewsLGPS Central commits to net zero, PIC invests in urban regeneration
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including LGPS Central committing to net zero, and Pension Insurance Corporation investing in an urban regeneration project.
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NewsChurch of England puts pressure on miners, PIC invests in student halls
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the Church of England Pensions Board pushing miners on standards, the Pension Insurance Corporation’s investment in low-carbon student accommodation, and a pledge by the Net-Zero Asset Owner Alliance to halve portfolio emissions by 2030.
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NewsSchemes have over £1tn in assets exposed to ‘significant’ climate risk
On the go: More than £1tn in assets held by UK institutional investors is exposed to significant climate risks, according to research from LCP.
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NewsPearl Group pension fund completes further buy-in
On the go: The £2.9bn Pearl Group Staff Pension Scheme, one of Phoenix Group’s main pension schemes, has completed a second £998m buy-in with the group’s life assurance company, Phoenix Life.
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NewsBrunel Pension Partnership launches listed markets fund
On the go: The £28bn Brunel Pension Partnership has launched its £2.1bn Sterling Corporate Bond Fund, selecting Royal London Asset Management to handle the assets.
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NewsCorporate bond managers urged to explain climate transition risks
As defined benefit schemes are increasingly expected to replace their equity portfolios with corporate bond holdings in their journey to reach funding targets, pension funds and their asset managers are being urged to carefully assess companies’ attitudes to climate transition risks.
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NewsMorrisons’ pension schemes complete buy-ins
On the go: The £5.1bn Morrison and Safeway Care Schemes, which include the Wm Morrison 1967 Section of the Morrisons Retirement Saver Plan and the Safeway Pension Scheme, entered into two new buy-in policies during the year to January 2021.
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NewsTPR, PPF propose tiered approach in asset information reform
The Pensions Regulator and the Pension Protection Fund have issued a joint consultation into proposals to change the asset class information TPR collects via the scheme return.
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NewsCan UK councils rent their own streets to fund pensions?
Several US public schemes have embraced unusual means of securing funding, including renting property to themselves. Although these tactics cannot be used across the Atlantic, the post-Covid landscape could see a variety of new strategies being deployed in the UK.
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News
Market volatility leads to attractive returns in low-risk credit
On the go: Pension schemes should consider adopting high-quality, low-duration credit strategies such as asset-backed securities as an alternative to traditional bond allocations when looking to derisk their portfolios, according to a new report from Aon.
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Features
Widening spread on buyouts makes self-sufficiency harder to justify
Data crunch: An already booming market for pensions insurance has received a two-pronged boost from the coronavirus pandemic: the turmoil rippling through the economy is providing schemes with the best ever pricing for buy-in deals, just as the demand for shedding investment risk is at its greatest.