All articles by Rachel So – Page 4
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NewsNatWest pension fund invests in later-living housing
On the go: The £53.1bn NatWest Group Pension Fund, which comprises the £46.5bn Main Section, £1.1bn AA Section, £199.5m NWM Section and £73.6m RBSI Section, has entered into a joint venture partnership with Legal & General to invest £500m in net-zero-carbon ‘later-living’ housing. RBS Investment Executive Limited and Aon advise.
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NewsThames Water schemes appoint Redington as adviser
On the go: The £1.7bn Thames Water Pension Scheme and the £770.9m Thames Water Mirror Image Pension Scheme have appointed Redington as their new investment adviser. Separately, over the year to March 31 2021, one of the schemes reallocated some of its assets from a diversified growth fund to corporate credit.
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NewsRailways Pension Scheme manager launches internal trading desk
On the go: RPMI Railpen, the Railways Pension Scheme investment manager, has launched an internal trading desk to further enhance its in-house capabilities.
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NewsLegal & General DB scheme secures £925m derisking transaction
On the go: The Legal & General Group UK Pension and Assurance Fund has completed a £925m assured payment policy transaction with Legal & General Assurance Society.
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NewsLeek United Building Society joins Enplan platform
On the go: The circa £45m Leek United Building Society Pension and Assurance Scheme has joined the Enplan Pension Platform, which will provide governance, actuarial, investment and administration services to the scheme.
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NewsKingfisher completes £900m buy in; Londis scheme winds up
Risk watch: A roundup up of the latest derisking transactions, including the Kingfisher scheme’s £900m buy-in with Aviva and the Londis scheme winding up after a bulk annuity transaction.
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NewsFourteen pension schemes commit to net-zero targets
On the go: Fourteen pension schemes, which collectively manage nearly £270bn of assets, have committed to set net-zero targets to align their investment portfolios with a 1.5C pathway.
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NewsSt James’s Place shakes up fund manager arrangements
On the go: St James’s Place Wealth Management, with £135.5bn in assets under management, has appointed new managers and terminated a manager for its newly rebranded UK fund. The manager uses a number of different advisers including Redington.
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NewsCommonwealth Bank of Australia scheme secures full buy-in
On the go: The Commonwealth Bank of Australia (UK) Staff Benefits Scheme has agreed a circa £420m full buy-in with Legal & General Assurance Society.
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NewsBrunel pool to launch Paris-aligned passive fund
On the go: The Brunel Pension Partnership has licensed a Paris-aligned index, which it will adopt for a passively managed fund that it will launch in September 2021.
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NewsReach Pension Plan joins new climate action group
On the go: The Reach Pension Plan has joined new action group Climate Impact Initiative, which aims to encourage pension providers to make climate-friendly impact investment options available for all savers regardless of plan size.
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NewsNorfolk Council scheme extends investment consultancy framework
On the go: Norfolk County Council, acting on behalf of its own circa £3.6bn pension fund and a number of other UK Local Government Pension Schemes, has announced an extension to the duration of the National LGPS investment consultancy framework as a result of the Covid-19 pandemic.
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NewsLadbrokes Pension Plan agrees £420m buyout with Rothesay Life
On the go: The Ladbrokes Pension Plan has agreed a full buyout worth £420m with Rothesay Life, the scheme confirmed to Pensions Expert’s sister publication MandateWire.
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NewsRidgeon Group scheme completes £50m buyout with L&G
On the go: The Ridgeon Group Pension and Life Assurance Scheme has completed a £50m buyout with Legal & General. Buck Consultants advised on the deal.
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NewsChurch of Scotland schemes appoint XPS as joint adviser
On the go: The £507.5m Church of Scotland pension schemes, comprising the scheme for ministers and overseas missionaries, the scheme for staff and the scheme for ministry development staff, have appointed XPS Pensions Group as their actuarial and investment adviser.
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NewsNow Pensions pledges to go net-zero by 2050
On the go: Now Pensions has pledged to go net-zero by 2050, while also increasing its investments in sustainable assets.
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NewsBrunel pool launches first fixed income portfolios
On the go: The Brunel Pension Partnership has launched a passive gilts and a passive index-linked gilts portfolio in conjunction with BlackRock.
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NewsQinetiQ scheme completes buy-in with L&G
On the go: The £2bn QinetiQ Pension Scheme has completed a £130m buy-in with Legal & General Assurance Society. LCP acted as the lead adviser on the transaction and provided derisking advice.
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NewsRailways scheme appoints L&G as flexible retirement solution provider
On the go: The £32bn Railways Pension Scheme has appointed Legal & General to provide members with access to a drawdown arrangement within its WorkSave Pension Mastertrust.
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NewsM&S scheme appoints ESG reporting solutions provider
On the go: The circa £11bn Marks and Spencer Group Pension Scheme, which recently commenced its latest triennial actuarial valuation, has appointed Northern Trust to provide a range of environmental, social and governance reporting solutions.