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...Back in the days of Moby-Dick, ships would set sail on the seas for an average of 3.6 years in the hope of harpooning a whale....
...“Government needs to recognise this as an international, globally competitive market,” he told attendees at the Trades Union Congress pension conference in London this week....
...As for their anxiety about UK pension funds’ shrunken equity holdings — it amounts to a denial of globalisation....
...The top five “super funds”, as they are known, hold nearly a third of total assets — A$3.5tn across 24mn accounts at the end of June this year according to the Association of Superannuation Funds of Australia...
...The last pieces of that puzzle — conceived by the Basel Committee on Banking Supervision and known as Basel 3.1 — are now close to being slotted into place across the western world....
...JPMAM is, as Gatch stressed at several points, an exclusively active investment house, with $3.1tn in assets under management. But that does not mean it ignores exchange traded funds. Far from it....
...The head of one of the world’s biggest pension funds has said UK retirement plans should not be told where to invest their money, as the government sets out plans to funnel more cash into unlisted assets...
...In the meantime, the UK government bond market went into meltdown in 2022, as pension funds’ liability-driven investment strategies struggled to cope with a sudden rise in yields....
...Weingarten: There are times as an AFT trustee, when you’re sitting on the board of a pension fund and you see $4bn in front of you and you have to make an investment decision. Wow....
...(Simon Mundy) Smart reads The Taskforce on Social Factors, set up by the UK government to look at social risks and impacts that pension fund trustees should consider, published its final report yesterday...
...The International Development Association, the World Bank’s fund for the poorest nations, is seeking a record amount of money to tackle mounting debt and climate crises, its chief fundraiser told the FT....
...Meanwhile, the pension deficit grew from £18mn in 2006 to £380mn in 2017. Thames Water’s debt also increased steeply from £3.4bn in 2007 to £10.8bn at the point of sale....
...More than $10.4tn is in US defined contribution pension plans, and another $5.8tn is in individual retirement accounts, per the ICI....
...The Big Read Once an investment backwater, infrastructure has become a favoured area for pension funds seeking yields and protection against market volatility....
...Another busy week in Brexitland, a world that I often describe through the incremental irritations faced by industry and investors as a consequence of Brexit and leaving the EU single market....
...This is especially true for those on the minimum 3 per cent employer contributions, versus an average of 10 per cent for FTSE 100 companies....
...DC schemes, where workers and employers put money into an individual pot to fund retirement, are on their way to becoming the largest part of the pensions market....
...He notes, for example, that “UK institutional investors are not investing as much in UK high-growth companies as their international counterparts” and at the same time “some defined contribution schemes...
...And it’s one of the big things that the Norwegian sovereign wealth fund very noticeably does not do....
...10 per cent of the US population....
...firms: The limits of the pursuit of profits Labour markets: How does British Airways pilot pay compare?...
...Russell qualified as a teacher in 2007 but says the past five or 10 years have seen an explosion in need....
...So I will introduce new requirements for DC and local government pension funds to disclose publicly their level of international and UK equity investments....
...Professor Ludovic Phalippou of the Saïd Business School has called the industry a billionaire factory, where the billionaires are the fund managers rather than the entrepreneurs....
...To gain the maximum amount of points, Platinum card holders need to channel £10,000 worth of spending through their card in the first six months. Gold customers must spend £3,000 within three months....
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