Nico Aspinall

In this month’s commentary our Chief Economist, Colin Warren, looks at some of the possible implications of a future Labour government for investors in UK bond and equity markets. https://ow.ly/OgnP50RN8ca #economy #markets #bonds #investing

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Watch David Coombs, head of multi-asset investments, on the latest Asset TV UK panel discussion. David and co-panellists discuss the City Hive ACT Framework's role in fostering transparency, accountability and cultural change in #InvestmentManagement, and why fund selectors are pushing for more Signatories. 🔗 Watch here: https://lnkd.in/eCqAZkSx #RathbonesAssetManagement #InvestorsAct

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Pleased to report that The Society of Pension Professionals have today published their much anticipated discussion paper on government proposals for a Lifetime Provider Model - whereby savers have a single pension scheme throughout their lives irrespective of how many jobs they may have.   Although The Society of Pension Professionals paper acknowledges there may be some benefits from a Lifetime Provider Model, overall, the conclusion is that such an approach would be complex and costly and that there are better value, more effective alternatives such as the Government’s pension dashboards project. The paper is FREE and available to all using the link below so why not find out more and have a read: https://lnkd.in/eVMjvt55 #pension #pensions #potfollowsmember #pot4life #publicpolicy #policy #pensionspolicy 

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On this #EarthDay head of climate change Caroline Cook illustrates how we are using scenario analysis to navigate the transitions in our energy and climate systems. 🌍🌳 #ActualInvestors

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What have schemes focussed on in the last year? Our survey of the DB pension market showed that more and more schemes are taking positive action on climate risk. Amongst schemes over £5bn, 90% now have a net zero target while medium to smaller schemes are also taking steps – the equivalent figure for schemes in the £500m-£1bn range is over 60%, and almost 40% for schemes below £500m. Find out more here: https://bit.ly/4eFvC8x

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What have schemes focussed on in the last year? Our survey of the DB pension market showed that more and more schemes are taking positive action on climate risk. Amongst schemes over £5bn, 90% now have a net zero target while medium to smaller schemes are also taking steps – the equivalent figure for schemes in the £500m-£1bn range is over 60%, and almost 40% for schemes below £500m. Find out more here: https://bit.ly/4eFvC8x

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📰 Impact-Investor.com reports how South Yorkshire Pensions Authority (SYPA) is making a difference locally through its #PlaceBased #ImpactInvesting (#PBII) funds. It says: "SYPA is now measuring the impact those funds have, which according to [Investment Director, George Graham] has been “quite a revelation” in terms of jobs created and the volume of housing financed." Read the full article here ➡️ https://lnkd.in/eb6WZjJh SYPA is one of the pioneers of the PBII movement and we were proud to produce an assessment of the Fund's place-based impact for its 2022 - 2023 Annual Report. Click here to learn more work done by The Good Economy around SYPA’s impact in South Yorkshire and the UK ➡️ https://lnkd.in/eGKGxAUv. [image: SYPA's PBII Reporting Dashboard] #PBIIReporting #ImpactManagement #ImpactMeasurement

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The UK Sustainable Investment and Finance Association UKSIF calls on regulators to clarify the relationship between pension fund trustees’ fiduciary duty and their obligations on climate-related risks. “The risks around sustainability are already so clear. We want to make it crystal clear that as a normal part of their everyday work, trustees should be factoring in sustainability considerations without worrying about whether they will be sued,” says UKSIF chief executive James Alexander. Read more below. #fiduciaryduty #sustainablefiance #sustainabilityrisks https://lnkd.in/ew8tbP8g

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The UK Financial Conduct Authority’s (FCA’s) recent proposal on research re-bundling, though well-meaning, has come in too late to reverse the structural changes that have become entrenched post MiFID II.   Asset managers are focused on the value of research. They have expanded their internal research teams and are likely to be reluctant to take on more operational burdens. The commercial dynamics between asset owners and asst managers would be the key determinant of who would shoulder the cost of research. We think it would likely continue to be the asset managers.   For the sell-side, things are likely to remain the same—they would have to prove the value of their research to get paid.   To know more about the potential implications of this proposal for buy- and sell-side firms, read our latest point of view authored by Abhik Pal, Sabrina Rey, and Deepak Krishna:  https://bit.ly/3KQxqhn  #MiFID-II #FCA #AssetManagers #EuropeanUnion #Research #PointOfView

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In “Defined benefit pensions in focus”, we explore the views of decision-makers at global DB schemes on real asset investments. 🏢 Read the article to find out more 👉 https://bit.ly/4cEY1tO #DefinedBenefit #Pensions #RealAssets #Research

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Seventy-three percent of UK-based asset owners would invest in natural capital in order to support climate adaptation, a research report commissioned by British asset manager Gresham House showed. Read our story by Danielle Rossingh here: #impactinvesting #naturalcapital #biodiversity #climateadaptation https://lnkd.in/ev9itKif

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Here at The Society of Pension Professionals we have today published our latest topical pensions paper, this time on Jeremy Hunt's plans to get British pension funds to invest at least 5% of their funds into unlisted British equity and to fully disclose their investment levels. As The Society of Pension Professionals DC Committee member Amanda Small observes, “...Government must be careful that a new reporting obligation like this does not inadvertently channel DC schemes’ investments into UK-centric asset classes that currently neither reflect a robust investment case or meet trustees’ requirements for diversification, sufficient risk-adjusted returns and avoidance of concentration risk.   If the Government wants to encourage greater investment in UK companies then these companies need to offer better risk-adjusted investment returns. Ultimately this is the key driver of trustees’ investment decisions.” https://lnkd.in/d7qGyzTv #pension #pensions #investment #trustees #pensionfunds #Government #hmtreasury #dwp #mansionhouse #policy #pensionspolicy

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How should investors assess the alignment of their portfolios with the climate transition? Read the latest paper from our Global Equity ESG team to understand their approach: https://lnkd.in/ej_a4nNd #climatechange #equities #ESG #transition #netzero Louise Dudley, CFA, Lewis Grant, Paul Dalton For professional investors only. Capital at risk.

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Great piece from Martin Richmond at Professional Pensions on The Society of Pension Professionals latest discussion paper. Our paper analyses government proposals to push pension funds to disclose their investment levels and ensure at least 5% are invested in UK equity - and the unintended consequences that may arise from doing so. https://lnkd.in/dxRfu8EA #spp #pensions #pension #investment #trustees #pensiontrustees #policy #publicpolicy

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