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...Investor jitters come as Ofwat is pushing them to inject more cash into the utilities....
...The parent company’s owners include NatWest’s pension fund, a Canadian pension fund and an Australian infrastructure investor....
...Thames Water has brought in advisers, including EY and Teneo, which advised the government on the collapse of the energy supplier Bulb....
...But Thames’ nine shareholders, which include the Canadian pension fund Omers, the UK’s university pension fund scheme USS and the Abu Dhabi and Chinese sovereign wealth funds, would face large losses, which...
...However, its largest investor, the pension fund Omers, took a 30 per cent write down on its Thames Water stake last year, raising concerns over investors’ willingness to put more cash into the business....
...Energy analysts suggested the move could help improve BP’s credit rating, because rating agencies can assess pensions as liabilities....
...Market-based cash-balance plans pool resources and offer the option of payments for life like a traditional pension, but the final payout is based on the plan’s investment returns, limiting the employers...
...So possibly the proposal could be reversed with all local authority funds handed to the government (which could certainly benefit from the cash) and the liabilities placed off balance sheet (where the implicit...
...It is expected to produce a new business plan in coming days which could include a change in bill proposals....
...Consultancy Bain & Co has warned of a “towering backlog” of companies that must be sold so cash can be returned to investors such as public pension funds which have become overexposed to unlisted investments...
...The regulator is not due to make its draft decision on company business plans, including increases to customer bills, until June....
...The deal was followed in 2022 by the Ontario Teachers’ Pension Plan paying £1.5bn for a 25 per cent stake in the transmission lines owned by SSE in Scotland....
...Predicting how climate change will feed through to companies’ balance sheets is enormously complex, and there are risks in suggesting false precision....
...Without fresh equity Thames would have to slash costs and investment and focus squarely on cash preservation....
...The company said it had £2.4bn of cash and access to other overdrafts, enough for it to continue operating until 2025....
...Now Thames Water says it will not be able to deliver its turnaround plan if it does not receive more cash from shareholders....
...Collectively, corporate Japan possesses in the order of $2tn to $3tn of cash on [its] balance sheets.”...
...Ailman’s departure means two of the biggest pension plans in the US are searching for new investment chiefs....
...Europe’s third-largest pension fund has sold €2.8bn of its holdings in oil groups including Shell, BP and TotalEnergies because they were not doing enough to produce credible plans for the clean energy transition...
...Sensibly, she wants to focus on the full public sector balance sheet while targeting the current, rather than the overall, fiscal balance....
...Intermediate-to-longer maturity USTs should see about $150bn demand from a combination of private and public (state and local) pension plans . . ....
...Fiscal policy: Is the state pension really ‘a Ponzi scheme’? Labour markets: UK wages: which sectors are driving up pay?...
...So what about the other suggestions — allowing companies to withdraw cash from their pension schemes?...
...The typical Gen X household has just $40,000 saved for retirement, and 40 per cent of their 401k plan balances are zero....
...At the end of 2022 there were around 27,000 UK DC pension plans, with 85 per cent reporting fewer than 12 members. UK pension plans’ investment remains heavily focused on listed equities and bonds....
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