All Investment articles – Page 88
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Opinion
Should trustees review their advisers more often?
Analysis: There are myriad tasks involved in running a pension scheme, so time is precious and efficiency is key. But when it comes to evaluating advice, how can trustees measure performance, and should they be reviewing their consultants more frequently?
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FeaturesSuffolk scheme fills gaps with greenfield infra
The Suffolk Pension Fund has added to its alternatives allocation, including a commitment to illiquid credit and an investment in a greenfield infrastructure fund, as experts have highlighted the importance of good governance when investing in illiquids.
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OpinionDoes private equity offer schemes good value?
Trustees should focus on governance when trying to make sure private equity investments add value, says Rikhav Shah from EY.
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FeaturesVauxhall boosts LDI and DGFs in scheme overhaul
The Vauxhall pension plan has restructured its asset allocation by increasing exposure to liability-driven investments and diversified growth funds, as experts agree these are “sensible” steps to take.
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News
Nolan: Inflexible actuaries and trustees harm DB employers
Trustees and their actuaries must consider the impact of deficits and funding negotiations on struggling defined benefit sponsors, the president of the Society of Pension Professionals has warned.
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Features
JLT scheme deficit shows rate pain persists
The UK pension scheme of consultancy and insurance business JLT Group saw its IAS 19 deficit jump during 2016, as bond yields proved a leveller for schemes of all sponsor types.
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OpinionPension schemes need to rethink portfolio construction
From the blog: Traditionally, for pension funds to provide a secure income in retirement, investments were viewed through an asset class lens.
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FeaturesLeonardo scheme ups hedge after Care switch
The Leonardo Electronics Pension Scheme has adapted its liability hedging strategy to reflect the career salary benefit changes implemented last year to reduce risk and costs.
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FeaturesPru amends DC default, as experts warn against 'wait and see' approach
The Prudential staff scheme is due to amend its DC default fund this year in light of the introduction of freedom and choice, amid concerns that some schemes are choosing to wait for retiree data to help them design their default.
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OpinionThe right way to carbon monitor your scheme
Schemes should take a step-by-step approach to monitoring their carbon footprint, says Richard Tyszkiewicz from bfinance.
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OpinionData crunch: The DB market is growing fast
Defined benefit will continue to form the bedrock of pensions assets in the market for some time, explains Magnus Spence from Spence Johnson.
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OpinionWhy you should look again at LDI
From the blog: Anecdotal evidence says many UK pension schemes have earnestly considered liability-driven investment 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.
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News
TPR guidance: Welcome set of principles or waste of time?
While some have welcomed the Pensions Regulator’s recently published and extensive collection of investment guidance for those running defined benefit pension schemes, there are some concerns over the effectiveness of the information for time-stretched or less diligent trustees.
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Opinion
Industry reaps rewards of apprenticeship programmes, but challenges remain
Any other business: Apprenticeships are on the rise in the pensions industry, and while they appeal to an increasing number of people as a debt-free alternative to university, the apprenticeship levy and the prospect of jumping straight into a full-time job are still hurdles to be overcome.
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News
IA consults on cost disclosure code amid data overload concerns
The Investment Association is calling for views on a proposed industry code on disclosure of charges and transaction costs, as some have stressed the importance of making such data easy to interpret.
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FeaturesCornwall agrees new private credit allocation
The Cornwall Pension Fund is set to make an allocation to private credit, an asset class increasingly popular among schemes as tightened bank regulation has opened up a new range of investment options.
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News
Monitoring key as risk creeps into managers’ direct lending strategies
Increasingly complex models of unitranche loan agreements are being brought to market by managers offering direct lending products, a research paper has found, demanding careful governance from pension scheme investors.
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Features
Leicester Uni scheme cuts risk with higher hedge
Following closure to future benefit accrual, trustees at the University of Leicester Pension and Assurance Scheme have decided to double its hedge, as experts emphasise the importance of keeping an eye on triggers and cash flow.
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FeaturesCentrica drills for returns with high-yield allocation
The Centrica Combined Common Investment Fund, which manages holdings for the energy giant’s pension schemes, has trimmed its exposure to corporate bonds, reweighting its portfolio towards high-yield debt.
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Opinion
Which types of credit generate the highest returns?
How have different credit types performed, and why should schemes tread carefully when it comes to direct lending? Bestrustees’ Bob Hymas, PGIM’s Jonathan Butler, PTL’s Richard Butcher, Redington’s Greg Fedorenko and Willis Towers Watson’s Chris Redmond share their views.