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Scottish independence would eliminate Pension Protection Fund safety net
trueMembers of defined benefit pension funds in Scotland would not be able to depend on the safety net of the U.K.'s Pension Protection Fund in the event of a “yes” vote in this September's referendum for Scottish independence, warned Danny Alexander, the chief secretary to the Treasury.
Aviva agrees to $8.4 billion longevity swap for its pension fund
trueAviva PLC, London, agreed to the largest ever longevity swap for its defined benefit Staff Pension Scheme, transferring the risk of 19,000 members to three reinsurers.
Alaska Permanent commits $418 million to custom U.K. real estate separate account
trueAlaska Permanent Fund Corp., Juneau, committed £250 million ($418 million) to LaSalle Investment Management to run a custom U.K. real estate separate account, confirmed spokeswoman Laura Achee.
Mercer: FTSE 350 companies' aggregate funding ratio improves a bit
trueThe aggregate defined benefit pension plan funding ratio improved slightly for companies in the FTSE 350 to 85% in February, from 84.4% the previous month, due to strong stock market returns, even though those returns were slightly offset by an increase in liabilities, according to Mercer's ...
Schroders assets rise 24% in 2013
trueSchroders PLC reported assets under management of £262.9 billion ($439.8 billion) as of Dec. 31, up 24% for the year.
BlackRock's Fink: U.K. should make pension saving mandatory
trueThe U.K. should make saving into an occupational pension fund mandatory, according to Laurence D. Fink, CEO and chairman of BlackRock.
NAPF chairman calls for U.K. to issue more long-term debt to meet pension fund demand
trueThe U.K. government must issue more long-term, index-linked debt to satisfy increasing demand from pension funds for these assets, said Ruston Smith, chairman of the National Association of Pension Funds.
Towers Watson picks EMEA head
trueEd Francis was named head of investment for Europe, the Middle East and Africa at Towers Watson.
Ashburton Investments adds institutional distribution member
trueSwati Jain was appointed to the institutional distribution team at Ashburton Investments.
MKP Capital Management names client development director
trueMark Coombs joined alternative investment manager MKP Capital Management in London as director of client development.
Torfaen County pension fund taps 2 for equities
trueTorfaen County Borough Council Pension Fund hired Invesco Asset Management to run £100 million ($167 million) in Asia-Pacific ex-Japan equities, and FIL Pensions Management to run £50 million in global emerging markets equities.
Scottish independence might result in manager exodus
trueAt least two money managers are making plans to leave Scotland in anticipation of a Sept. 18 referendum to decide whether the country should become independent.
Fiduciary management seeing manager influx
trueU.K. fiduciary management, once dominated by investment consulting firms, is changing, with money managers adding resources, increasing expertise and gaining traction in a growing market.
Fiduciary managers also eye DC plans
trueAs retirement plan sponsors in the U.K. work to offload the burden of offering a generous defined benefit plan to employees, fiduciary managers are turning their attention to the possibility of applying their services to increasingly popular defined contribution pension fund arrangements.
Croydon Pension Fund sticks with BNY Mellon for custody
trueLondon Borough of Croydon Pension Fund, Croydon, England, renewed its contract with BNY Mellon to provide custody, fund administration and cash management services.