SRI, and the writing’s on the wall for bulk buyout
There was a time when ethical investment was the sole preserve of the tree-hugging, tofu-knitting, weekend eco-warrior. Unlike Tom and Barbara in The Good Life, these people didn’t eschew modern life. Rather more like Modern Parents in Viz, they beat their breasts at dinner parties over how much damage they were doing to the environment by using their Volvo estates for the school run and the weekly trip to Waitrose.
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Smedley: trustees should be aware that any overpayments pumped in now may make little difference to a company’s long-term strength |
Trustees facing a ‘pensions crunch’
Nervous trustees influenced by a raft of reports of increased scheme deficits are acting overprudently, an analyst has warned.
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Every little helps: Tesco cashes in chips with USS leaseback deal
The Universities Superannuation Scheme’s (USS’s) rumoured leaseback deal with Tesco should be a sound investment, a property expert has claimed.
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Global funds get on the SRI bandwagon
Climate change is the biggest concern among pension funds looking to invest responsibly, the PM socially responsible investment (SRI) survey has found.
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Sipp transfers on trial for causing customer delays
Sipp providers and investment managers must buck up their ideas when it comes to handling in specie transfers, a Sipp expert has blasted.
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Harris: in discussions with banks |
Annuity market to mushroom
The retail annuity market is set for a massive shake-up in the same way the bulk annuity space has exploded over the past few years, an annuity expert has predicted.
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Prudential defends with-profits push
Prudential has come under fire for “bombarding” IFAs and customers with recommendations about their with-profits annuity, to the point that it could be breaching treating customers fairly (TCF) guidelines.
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Saunders: caution will persist |
UK manages most assets in Europe
The total assets managed in the UK by firms belonging to the Investment Management Association (IMA) have swelled by almost 10% from £3.1trn in 2006 to £3.4trn last year.
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Chinese investments show Olympic growth
China’s dynamic growth looks set to continue as it makes its transition from an emerging to a developed economy, and even with a projected slowdown in 2008, we should still see 10% growth – far superior to the rest of the world. Rising incomes and a high savings rate are creating a burgeoning domestic consumption theme in China. In this respect China is a mirror image of the developed western economies – while the UK and US are grappling with high consumer indebtedness and a sharp slowdown on the high street, Chinese retail sales are growing at around 20% a year.
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Livingstone: guidance creates more questions than answers |
Regulator justifies guidance
The Pensions Regulator has defended itself over industry criticism about the timing and clarity of its draft guidance on calculating transfer values.
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D&B failure scores go under spotlight
Pension schemes must take extra precaution over how strong their sponsoring employer is, as the industry gears up to be hit by more insolvencies, and criticism emerges over how accurate the D&B failure scores are.
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Johnson: findings are worrying |
It’s not what you know...
Personal recommendation from friends and acquaintances is the most popular way of selecting trustees, according to Trustee GAAPS, the search and selection firm.
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Xafinity’s appetite for acquisition is insatiable
Xafinity has told Pensions Management it is still on the hunt for more companies, and that it will snap up another firm within the next 12 months.
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Cole: firms must maintain control |
Mismanagement fine for Credit Suisse
Credit Suisse has been hit with a £5.6m fine as it fails to organise its business effectively, and the Financial Services Authority (FSA) gets tough on pricing errors and poor management.
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Crombie: robust balance sheet |
Companies fight uncertainty
Several household names in the pensions world have bucked the trend of huge losses in the first half of 2008.
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Performance fees block DC fund developments
Trustees and employers seeking to introduce more sophisticated investments into their defined contribution (DC) arrangements may be hampered by the increasing use of performance-related fees.
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Liberata to sell off pensions & benefits book
PM understands that following its purchase by HCL earlier this year, Liberata Financial Services has put a book of business out to tender.
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TUC voices concern over Tories’ PA shun
The Trades Union Congress (TUC) has warned the Conservatives would cause a “major fracture” in the current consensus on pension reform if they turn their backs on personal accounts.
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So many options, not enough time
One of the findings of the Pension Commission was the realisation that Britain has almost lost the savings habit. The ‘buy now, pay later’ generations have relied on easy credit instead of hard cash.
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The finalists for TAS 2008
I t’s really not fair, is it? Summer is almost over and what have we seen of it? We all know people who wished for hotter summers. Well, now they’ve got what they wanted, I hope they’re happy that instead of the climate of the Riviera, we got south east Asia.
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Time to step up the pace
A strong economy has in the past smoothed the completion of covenant reviews, but the shortcomings of the process must be addressed now employers’ finances are not as stable
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Pension: payment for past services
Now here’s some information for you. Apparently the one-millionth word is about to be added to the English language. I mean, how good is that? I don’t know how they know it, but experts are saying that the tally of 995,844 ‘official’ words that currently exist are being added to at such a rate that our millionth word will probably pop up on April 29, 2009.
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A perfectly powerful union
Owen Walker speaks to TUC general secretary Brendan Barber about the pivotal role of the body in pensions reform, and its campaign to empower trustees to actively engage with companies
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Gloomy views and biases
In depressive economic times, with the threat of recession hanging over consumers and employers alike, maybe the answer is to approach the problem with more optimism
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Reynal: diversity is the key to success |
It’s a material world
Michael Reynal explains the philosophy behind his approach to emerging markets investing and reveals the secrets behind choosing the best stocks to guarantee excellent returns
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Stay aboard the floating ship
As economic turmoil prevails, many asset classes are being forced to adapt to survive. Private equity is no exception, and is set to flourish further as investors seek diversification
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SRI climbs back up the agenda
Responsible investment has climbed up the agenda over recent years, but it has developed from an ethics-centric enterprise to a market focused on solid returns
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A one-stop shop for pension investments
Mark Rowlands: Investment platforms have been around for five or so years and their market penetration seems to be accelerating. That is driven partly by DC pension schemes looking for more sophisticated solutions as their asset pool and cash flows have increased, but also by some defined benefit (DB) schemes with small asset pools that are looking for more sophisticated solutions and greater flexibility. Platforms can provide greater diversification of managers and asset classes, improved operational efficiency and reduced out-of-market risk in the event of manager changes. Some clients, typically those who have a 100% passive approach, are still comfortable buying from pools or segregated vehicles, however, those wanting different solutions are increasingly looking into platforms.
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John Moret - Director of sales and marketing Suffolk Life |
Has the industry resolved the issue of Sipp suitability?
John Moret: From a Financial Services Authority (FSA) perspective, suitability seems to be linked to two or three key issues. One would be pricing and whether the product is suitable when compared with other types of personal pension that might be available. That also raises the issue of disclosure, which could be extended to cover not only price, but also the proposition – in particular the price you’re prepared to pay for the investment flexibility. Another important issue to consider is the principle of treating customers fairly.
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On your marks for big rewards
The effect of poor quality data can wreak havoc for administrators and scheme members, leading to increased liabilities
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Pickering: will leave his role of partner at Watson Wyatt in January |
Bestrustees reveals chairman
Alan Pickering, well known in the UK pensions industry for his report on the simplification of rules governing private pension provision in 2002, is to become chairman of Bestrustees.
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Roberts: great potential for cross-border pensions |
Roberts recruited in rush for cross-border
Towers Perrin has hired Dave Roberts as a senior consultant for cross-border pensions.
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JLT finds solution with hire of Hogan
JLT Benefit Solutions has named Des Hogan as a senior consultant to help the firm expand its defined benefit and defined contribution businesses.
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