All Gilts articles – Page 9
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Features
Smiths Group claws back deficit after 8-year fight
Technology and engineering conglomerate Smiths Group has reported a significant improvement in the funding position of its defined benefit pension schemes after pursuing a stringent eight-year derisking campaign.
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OpinionFour problems with today’s LDI strategies
We must fight to keep hold of the fundamental meaning of liability-driven investment in order to identify cost-effective ways of investing with a true liability focus.
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Opinion
DB schemes responding to challenges, but is it enough?
Defined benefit pension schemes are showing greater sophistication in their approaches to risk and improving their funding levels, but the challenging wider economic environment is hampering efforts.
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NewsWhat your scheme could learn from the PPF's approach
The Pension Protection Fund has further increased its scheme funding level to 115 per cent and experts have said other defined benefit schemes could adopt its risk management approach to improve their results.
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NewsHow schemes should react to Carney rate rise hint
News analysis: The Bank of England has bolstered expectations of a rate rise by the end of the year and schemes should consider their position ahead of any change, experts have said.
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OpinionEditorial: Cache is king
The structure of pension funds is such that there has always been an obligation for them to buy bonds, the traditional income-producing asset class that enables schemes to match pensioner liabilities.
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Opinion
How to build your multi-asset credit portfolio
Multi-asset credit is a diversified strategy that aims to capture credit risk premium on a global basis, using the entire credit quality spectrum to secure superior yield to a government, local or investment grade-only strategy.
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Opinion
Nationwide, Strathclyde and British Coal among top five 2014 investment stories
Ditching hedge funds, the rise of responsible investment and the growing success of property mandates have all featured in a tricky year for UK pension fund investment.
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Opinion
Where is innovation coming from in fiduciary management?
Barnett Waddingham’s Simon Cohen, Buck Consultants’ Brian McCauley, Goldman Sachs Asset Management’s Carolyn Tavares, Russell Investments’ Shamindra Perera, Sackers’ Stuart O’Brien, and Towers Watson’s Pieter Steyn compare experiences of innovation within the fiduciary management arena, in the final part of this discussion.
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News
Selex grows surplus to £72m but future costs rise
The £530m Selex Pension Scheme has further grown its funding surplus, but its pensions head is unfazed about overfunding as the interest rate environment has pushed up future service costs.
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Opinion
How should you benchmark your manager?
In the final part of this three-part debate on fixed income, Aon Hewitt's Tim Giles, Hymans Robertson's Carl Hitchman, Law Debenture's David Felder, M&G Investments' William Nicoll and the Pension Protection Fund's John St Hill run through the different options for measuring the performance of a fixed income manager.
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Opinion
How is monetary policy uncertainty affecting fixed income?
As interest rates remain low, the fixed income market is struggling to remain attractive to investors. Aon Hewitt's Tim Giles, Hymans Robertson's Carl Hitchman, Law Debenture's David Felder, M&G Investments' William Nicoll and the Pension Protection Fund's John St Hill look at the effects of economic policy on the asset class.
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News
Unilever swaps asset allocation approach to focus on outcomes
Consumer goods giant Unilever's pension fund has adopted an outcome-led investment approach split into five key objectives, jettisoning its previous focus on asset allocation in a bid to avoid short-termism.
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Opinion
How stubbornly low gilt yields are impacting the bulk annuity market
Looking at the volume of bulk annuity cases being completed over the past year or so you would have to conclude that ongoing low gilt yields are not having the detrimental effect on the market that many commentators have been predicting.
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Opinion
Five key charts from the PPF's Purple Book
Flying in the face of almost everything else pensions-related this year, the latest annual edition of the Pension Protection Fund's Purple Book revealed few if any big shocks.
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Features
South Yorks ups property, EMD and high-yield in search for returns
South Yorkshire Pension Fund has increased its allocation to property and placed greater emphasis on emerging market and high-yield debt as it searches for greater balance between risk and returns.
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Features
EE ditches gilts for absolute return as institutions hunt yield
The largest UK mobile group’s defined benefit pension scheme is removing a set allocation to index-linked gilts in favour of absolute return bonds and hedge funds, the latest institutional investor to reset its portfolio in a hunt for value.
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Features
British Coal latest to unwind hedge funds, putting trust in property
The British Coal Staff Superannuation Scheme is unwinding its hedge fund holdings and increasing its property, the latest high-profile fund to drop an asset class beset by fee and transparency concerns.
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Features
Nationwide builds inflation hedge, ups matching assets to derisk
Nationwide Pension Fund has reduced its exposure to return-seeking assets and carried out its first significant inflation hedge, as capital adequacy rules drive banking and building society sponsors to reduce funding volatility.
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Opinion
Schemes make record gilts investment, and three other key ONS charts
Schemes invested heavily in fixed income assets – including government, corporate and overseas bonds – last quarter. Anticipated rate rises, schemes derisking out of equities and even switching from synthetic to real gilt holdings have all been investment drivers.