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...Part of the problem is that ESG funds often try to address too many factors at once, says Brad Lander, who runs New York City’s $248bn in pension funds, leading to “a loss of clarity and strategic attention...
...Nicholas Lyons, the City’s Lord Mayor, told the Financial Times last month that he had held talks with the Treasury about forcing pension funds to invest in a proposed £50bn growth fund....
...One area of promise is the Local Government Pension Scheme, which if it were a single fund would rank among the biggest in the world, rivalling the famed funds of Canada and Australia....
...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...
...“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...
...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....
...Job moves Calpers, the biggest pension fund in the US, has named Stephen Gilmore as its investment chief. He was previously the top executive at sovereign wealth fund New Zealand Superannuation Fund....
...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....
...I did a little “whoop” when I won £200 this month, but I’m sad about the prize fund rate dropping from 4.65 per cent to 4.40 per cent in March....
...“I would prefer to be patient and wait for clear and convincing evidence that inflation is on track to hit our 2 per cent target before adjusting the stance of policy,” Jeffrey Schmid, Kansas City Fed president...
...Assets equivalent to the size of the European-listed sector could come to market this year as private owners, including pension and insurance funds, bail out of commercial property....
...According to ONS figures, pension and insurance funds hold only 4.2 per cent of listed UK shares, while foreigners hold 57.7 per cent. Regulatory regime?...
...Second, he’d like to raise the stock of risky assets held by pension funds....
...Ten of the UK’s largest pension providers signed the deal, pledging to invest up to 5 per cent of the assets in their default funds into unlisted equities by 2030....
...Efforts to boost the flow of pension fund money into the market, while welcome, will not bear fruit quickly — with calls for more immediate action, including a “British Isa”, growing....
...“The fact that pension fund reform has become a politicised issue and has gotten real attention is a good thing,” he said, adding that a more effective pension sector “cannot only improve investment and...
...Hunt will seek to merge some of the 80 or so local government pension funds....
...According to pension fund documents published publicly this past January, the group has not yet realised a loss on any of its deals....
...Delfas cautioned that trustees would also have to look “carefully” at whether City fund managers could bring down their fees to reduce risks to pension savers....
...UK policymakers are scrambling to make London’s capital markets more attractive and to encourage pension fund investment in domestic businesses, with measures expected in the UK’s Autumn Statement next week...
...The City of London Corporation report noted the government’s Mansion House compact announced in July, in which ministers set a goal of securing £75bn of investment by pension funds in high growth companies...
...or used to back corporate pension liabilities....
...Hunt is not proposing to mandate pension fund trustees on where they should invest their money....
...Jeremy Hunt, chancellor, is examining the proposals as a way of directing more pension money held in defined-benefit schemes into start-ups and fast-growing businesses, as well as halting the City of London...
...would damage the City’s attractiveness as a global business centre....
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