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...In a call for evidence earlier this year, the government said the expanded role of the PPF would “drive scale, enabling a more sophisticated and productive long-term investment approach”....
...He would not be drawn on the options the government was considering but said: “We stand ready to serve, and see there’s a lot to be said for consolidation and scale.”...
...He declined to put a figure on the potential scale of investment in private credit but said it could become “significant” as the fund sold off assets that were not cash-flow matching....
...The private credit sector stepped in to the gap left by banks after post-financial crisis regulations forced them to scale back lending to small businesses....
...We have a guest appearance in today’s newsletter: our colleague Josephine Cumbo has an interview with the chief investment officer of one of Australia’s biggest pension funds....
...The Pensions Regulator does not currently record in-depth data on the scale of collateral or leverage agreed to by defined benefit schemes, nor does it ask every scheme to provide this data....
...The BoE said in a statement that the “scale and speed” of the ructions in the bond market this week far exceeded historical moves”....
...Copson added: “This is an Orwellian new power that sets incredibly dangerous new precedents, sanctioning financial surveillance on an industrial scale.”...
...“More than 20 years ago, Australian superannuation funds joined forces to create an investment vehicle that uses scale and expertise to access more complex global private markets,” says Gregg McClymont,...
...“The PPF has for over 15 years now demonstrated . . . that the crucial ingredients of scale, time horizon and professional management of diversified assets best secures long-term returns for savers — and...
...As investors fretted about the scale of proposed government borrowing and dumped gilts, yields on UK government debt soared....
...“A consolidator — aiming to invest for growth over the medium to long term allied with scale and professional asset management — will lead to greater allocations in productive finance while providing security...
...“We believe that bigger schemes, with that greater scale and expertise, can deliver greater outcomes,” she said....
...Hunt will also set a March 2025 deadline for dozens of local authority pension funds to pool their assets so they can benefit from economies of scale....
...The measures set out in a report from the Tony Blair Institute are aimed at reversing years of capital market decline through the creation of large pension funds, similar in scale to those in Canada and...
...the UK government considers ways to try to increase pension funds’ backing of UK companies, including boosting tax incentives for investment in UK business or pooling funds to generate greater investment scale...
...Shareholders say they are concerned over the scale of the investment needed to address mounting public anger over flows of sewage into rivers and leaking pipes by the end of the year....
...Reeves’ plans would push smaller pension funds to merge to create the scale needed to take on new investments, and include giving the regulator more powers to consolidate the sector....
...“This will also unlock billions for our most cutting-edge businesses and ensure they can access the finance they need to scale up and list in the UK.”...
...That would allow them to benefit from scale, better governance and investment expertise, rather than waiting until they ended up in the PPF anyway after they failed....
...The report suggested the UK incentivise consolidation among its pension funds in order to benefit from economies of scale, similar to the Canadian model....
...That the notion that he was short comes from a misreading of the scale of French measurements and also from him being called Le Petit Caporal....
...Additional reporting by Costas Mourselas, Will Louch and Josephine Cumbo...
...The Running Grave is in the vicinity of 1,000 pages, and the whole sequence now rivals Proust in scale. Can crime justify this prodigious word count, or is concision an immutable requirement?...
...Joséphine’s stumpy black teeth were never likely to feature in the come-hither mouth of Vanessa Kirby, who does a mean job of inhabiting the empire-line cougar....
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