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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...
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...pension funds....
...The package requires increased disclosure and puts new limits on the way the industry treats customers — mostly pension funds, endowments and other institutional investors....
...(Patrick Temple-West) US pension giant says engagement, not divestment, achieves climate impact The investment chief of Calstrs, one of the world’s largest pension funds, has said the tactic of dumping...
...“Pension funds use leverage to manage cash flow and manage portfolios more efficiently,” said James Lewis, chief investment officer at the UK arm of Mercer, which advises pension funds....
...The two funds are investors alongside Dutch pension fund APG in Get Living, a rental housing company set up by Jamie Ritblat’s property advisory company Delancey....
...This week, one of Europe’s biggest pension funds sold out of oil and gas majors, including Shell and BP, over concerns the companies were making little progress to transition to greener businesses....
...It also threatens to wipe out the stakes of Thames Water’s nine shareholders, which include the Chinese and Abu Dhabi sovereign wealth funds as well as Canadian and UK pension funds....
...They include UK pension fund London CIV, and international managers Rathbones, Candriam and Edmond de Rothschild, Swedish pension fund AP4 and Ethos Foundation, representing Swiss investors....
...Pension reforms: The chancellor has announced pension fund reforms, including a requirement for defined contribution funds to disclose their level of investment in the UK and publicly compare their performance...
...Pension funds are now taking a more cautious approach to private credit....
...Barings has raised billions of dollars for its private credit strategy from investors including Staffordshire County Council’s pension fund and a fund that invests the money of Ohio schoolteachers....
...The proposal, which was adopted by the board, will allow Calstrs to potentially borrow up to $30bn to help maintain liquidity without having to sell assets at fire sale prices....
...Higher interest rates lit a fire under the corporate pensions market, with improved scheme funding levels meaning hundreds of billions of pounds of pension obligations are expected to be transferred from...
...As always, thank you for reading. — Patrick Temple-West Sustainable investing Australian pension fund broadens investments amid uncertainty One of Australia’s largest pension funds is broadening its sustainable...
...Has it become too hard to fire people?...
...It has also placed Thames Water’s investors, including Chinese and Abu Dhabi sovereign wealth funds and UK and Canadian pension funds, under increasing pressure after they initially committed to putting...
...It could be, if lots of levered funds doing the trading are generalists and will bail in favour of a fire sale in another market....
...Using borrowed money and derivatives can help boost returns, rebalance portfolios and give the funds access to cash without having to resort to fire sales of illiquid assets during times of market stress...
...as pension funds....
...Some drove at riot police and destroyed barbed wire barricades set up around the main buildings....
...Something akin to this happened in August 2007 — a fire sale liquidation of quantitatively constructed portfolios which revealed a systemic risk in this part of the hedge fund industry....
...Kirkbi, an investment vehicle run by Lego’s founding family, teamed up with private equity group Blackstone and Canadian pension fund CPPIB on the £6bn takeover....
...Of those pension assets, 98 per cent are held in “Target Return Funds” — hedge funds — rather than long dated index-linked bonds to match pension payments....
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