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...British retirement funds hold more than £1tn in assets on behalf of tens of millions of savers but they have come under fire from policymakers and City asset managers for allocating more cash to global equity...
...Hunt will on Wednesday attend a City of London conference to promote his “Mansion House” reforms, which are intended to divert billions of pounds of pension savings into higher risk, higher growth UK companies...
...The compact could be published as early as October 25, when Jeremy Hunt, the chancellor, will speak to the City of London again at a pension summit in Mansion House....
...dollars in private equity funds....
...The deal is the latest sign that Australian pension funds, called superannuation funds, are looking overseas and towards private assets for growth....
...The City of London Corporation, which has collaborated with the government to channel long-term capital from pension funds into UK companies, said the chancellor’s new pension measures would “turn the dial...
...However, this is to underestimate the impact of the new transparency, governance and other behavioural constraints now imposed on governments by pension funds and other asset managers as a condition for...
...The pension fund announcement is of a similar ilk. UK pensions have lower allocations to domestic equities than pension funds in many other countries....
...Pension funds would likely compete for top earners with more retirement savings....
...The government, along with many in the City, is promoting its pensions compact as a win-win: in the long term, pension savers will receive a better return, while that pension cash will be deployed in the...
...“Some measures are *very* ill-judged,” said Mick McAteer, a former board member of the Financial Conduct Authority, adding they could “undermine pension security, allow City [fund managers] to extract higher...
...Earlier that week, Biden said he raised more than $25mn at an event with former presidents Bill Clinton and Barack Obama at New York’s Radio City Music Hall....
...Together with investors including hedge fund manager Steve Cohen and Atlanta Falcons NFL franchise owner Arthur Blank, Henry and Fenway are paying up to $3bn for a minority stake....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...City of London cash into UK infrastructure....
...In the brief period I spent in the City of London, becoming a chartered accountant, I had the good fortune to be sent on the audit of the Imperial Tobacco pension fund....
...The government believes this so-called Mansion House agreement, brokered by the City of London Corporation, which runs the Square Mile, could unlock up to £50bn in pension capital by 2030 if other UK pension...
...The operator of the closed copper mine, First Quantum, is seeking a minimum $20bn in arbitration. Economists say the country’s generous pension scheme needs reform to be fiscally sustainable....
...It was a tall, tanned Frenchman named Bruno Crastes, one of the most gifted fund managers of his generation....
...Steven Meier, chief investment officer of the $264bn New York City Employees Retirement Systems, said his fund was expanding into private credit when “everyone else has pulled back”....
...Fund analysis....
...In New York City, three pension plans that have chosen to divest from fossil fuel companies face a separate lawsuit alleging their decision was not made to further the interests of plan participants....
...The chancellor also used his Budget to ramp up pressure on British pension funds not responding to a push to provide greater support for UK businesses....
...Caledonia’s stake in 7IM was valued at £187mn as of March 31. The Canadian fund already has significant investments in the UK....
...The Big Read Once an investment backwater, infrastructure has become a favoured area for pension funds seeking yields and protection against market volatility....
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