Jonathan Libre
OpinionCovid-19 – a moment of truth for active managers?
Data Crunch: Over the past few years, pension fund investment in equities has increasingly shifted away from active towards passive strategies.
OpinionThe biggest driver of change in DC
Data Crunch: Over the past few years, defined contribution schemes have had to adapt to substantial changes introduced by the government and the regulators.
OpinionPositive momentum behind responsible investment
Data Crunch: Despite daily news coverage, regulatory developments and a growing consensus that environmental, social and governance factors affect investment returns, many trustees struggle to engage with responsible investment practices.
OpinionLGPS: The differing approaches to investment pooling
The Local Government Pension Scheme pools are up and running more than four years after they were first mandated, yet despite being subject to the same legal requirements, the eight pools differ markedly. The characteristics of the underlying schemes have had an important influence on the pools’ use of third-party investment managers.
OpinionIs there a future for equities in DB?
Data Crunch: Corporate defined benefit schemes have been shifting allocations away from equities as a means of reducing funding volatility and focusing on assets that can deliver contractual cash flows.
OpinionWhat does ‘value’ mean for UK DC schemes?
Data Crunch: Since the introduction of the 0.75 per cent cap on member charges in 2015, the average fee paid by members of defined contribution schemes has fallen dramatically.
OpinionSeven features that define DB pension schemes
Data crunch: The UK private sector defined benefit universe comprises approximately 5,500 schemes with a combined £1.8tn in total assets. The result is a landscape that is uncommonly diverse, although seven key parameters help define scheme characteristics and behaviour.
NewsGreater platform use will open up alts to smaller schemes
Data crunch: Defined benefit trustees are in a bind on cash flows, with low or even negative yields persisting in traditional fixed income just as their schemes’ liabilities begin to mature and cash injections dry up. Asset managers are responding by offering new solutions to help access alternative, secure income-generating assets.
OpinionLarge DC schemes are warming to target date funds
Data crunch: Target date funds have seen widespread adoption in the US defined contribution market, but the UK has so far resisted change with schemes overwhelmingly using lifestyle approaches. However, data from our most recent DC Monitor survey indicates that an increasing proportion of schemes are gravitating towards target date.
OpinionHave DGFs had their day?
Data crunch: Diversified growth funds continue to face several challenges, from performance problems to competition from new product types. But despite these obstacles, this is not the end of the road for DGFs, argues Broadridge’s Jonathan Libre.
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What is the most important feature of a good DC scheme?
Data crunch: There is no doubt that defined contribution pension schemes face a large number of challenges in their quest to deliver good member outcomes.
OpinionFixed income's new world: Flexible, absolute return and the rest
Data crunch: Absolute return and flexible fixed income strategies have been hugely popular with UK pension schemes in recent years, for a variety of reasons.
OpinionRisk management should not just focus on assets
Data Crunch: As defined benefit pension schemes have matured they have become increasingly risk-aware. This awareness of risk is not just limited to those schemes’ asset portfolios, but also their liabilities and sponsor covenants.
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Could thematic investment help engage DC members?
Data crunch: Thematic funds struck a chord with European investors last year, pulling in significant sums of money. To a large extent, their popularity can be attributed to the simple fact that they invest in accordance with themes that the general public understand and relate to. With this in mind, could thematic investment approaches improve defined contribution member engagement?
OpinionData crunch: Consolidation will change shape of both DB and DC
Unlike pension systems in the rest of Europe, where large-scale pension funds are common, the UK is characterised by a large number of small, single-employer pension schemes. Some argue the disparate nature of UK pensions has created inefficiencies that should be addressed through consolidation.
OpinionHave we entered a new investment fee paradigm?
Data Crunch: Recent investment fee-related headlines from across the globe have created shockwaves that are rippling through the asset management industry.
OpinionThe evolution of the outcome-oriented DB investment solution
As the defined benefit market has matured, schemes have increasingly looked to external providers for solutions to the key challenges they face in trying to reach their desired outcome.
OpinionThe rise and rise of factor investing
Data Crunch: Factor investing has attracted a lot of attention from the UK pensions industry. Defined benefit schemes have seen factors as a way to diversify their growth assets and achieve greater control of risk, while defined contribution schemes are exploring default investment strategies that may offer better value for money to their members.