December 2022
08Dec

Vanguard quits Net Zero Asset Managers initiative

Vanguard Group is leaving an asset managers initiative committed to net-zero goals and will pursue similar objectives independently, it said Wednesday in a statement on its website. With roughly $8.1 trillion under management, Vanguard was one of the largest members of the Net Zero Asset Managers initiative, which as of November had 291 signatories with a collective $66 trillion under management, committed to net-zero carbon emissions by 2050. Vanguard said in its statement that it was withdrawing from the initiative it...

December 8, 2022
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08Dec

BlackRock adding ESG policy to its flagship U.K. DC strategy

BlackRock is formally incorporating an ESG policy into its flagship defined contribution strategy in the U.K., the asset manager said in a news release Wednesday. The LifePath U.K. series of target-date funds launched in 1997 had £9.2 billion ($10 billion) in assets under management as of Sept. 30. It provides access to 11 asset classes through index funds. Adding the ESG policy "is a continuation and evolution of LifePath U.K.'s ESG journey, which began in 2019, and reflects scheme members' requirements...

December 8, 2022
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08Dec

Canada’s biggest pension plan, CPPI, ends crypto investment pursuit

Canada's biggest pension fund, CPP Investments, has ended its effort to study investment opportunities in the volatile crypto market, two people familiar with the matter told Reuters. The reasons behind CPPI's abandonment of crypto research were not immediately clear. CPPI declined to comment but said it has made no direct investments in crypto. It referred to previous comments on cryptocurrency by its CEO, John Graham, in which he sounded a note of caution. Read also Swedish pension funds invest in cryptocurrency CPPI's...

December 8, 2022
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08Dec

Aging societies: How can we design societies that benefit older and younger people?

The success of longevity interventions is putting countries on paths to becoming aging societies, in which the number of individuals aged 65 and older is equal to the number of people aged 15 and younger. This outcome may lead to resistance to investments in healthy longevity, according to aging experts, if concerns are raised that the needs of older individuals will overwhelm societies, exacerbate ageism, and divide populations. The National Academy of Medicine in the United States addressed this possibility...

December 8, 2022
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07Dec

Global pensions with $3 trln on books fear stagflation –survey

Global public pension schemes and sovereign wealth funds managing more than $3 trillion in assets fear a combination of economic slowdown and higher inflation in the next 12-24 months, a survey showed on Tuesday. The investors face huge challenges in switching their portfolios to cope, according to think tank OMFIF, which carried out the survey of 19 funds across Europe, North America, the Middle East, Asia Pacific and Latin America. Read also Europe needs to step up on ‘global clean tech...

December 7, 2022
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07Dec

UK. More than 8.6mn missing out on workplace pension savings

More than 8.6mn people from “underpensioned” groups are missing out on workplace pension savings, according to a report by Now Pensions. The report, published on December 7 in collaboration with the Pensions Policy Institute, found a number of common factors within these groups that are causing barriers to saving, including non-traditional work patterns, a lower percentage of homeownership, and being impacted by inequalities in the labour market. People from underpensioned groups – including ethnic minorities, people with disabilities, carers and single...

December 7, 2022
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07Dec

Shelter Afrique target East African bourses, pension funds in USD 500mn housing bond

Speaking in Nairobi, Shelter Afrique's Ag. Managing Director Kingsley Muwowo disclosed that the Company was considering issuing local currency Medium Term Notes in Kenya, Uganda, Tanzania, and Rwanda. "Already, we have opened negotiations with Kenya's Capital Market Authority on the possibility of Shelter Afrique issuing another housing bond to support local housing projects and we plan to do the same with capital market authorities in Rwanda, Uganda and Tanzania. We want to approach it as an East Africa issue- meaning...

December 7, 2022
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06Dec

French unions vow to fight pension reform, with ‘mobilisation beginning in January’

France's eight biggest unions have issued a joint statement promising massive, co-ordinated strikes and demonstrations in January if the government goes ahead with planned pension reforms. “We will decide on a first date of a united mobilisation with strikes and demonstrations in January, if the government remains stubborn on its pension reform project,” reads the statement issued on Monday by the eight largest and most influential unions – CFDT, CGT, FO, CFE-CGC, CFTC, Unsa, Solidaires and FSU. All eight are...

December 6, 2022
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06Dec

Big Finance Has a Sustainability Problem. These Brands Have Solutions

The Co-Operative Bank and Make My Money Matter want to show consumers the power of their money The first question David Hayman asks new people he meets is if they know where their pension money is held. Most say they don’t. If you’re reading this in the U.K., you might be surprised to learn that yours is most likely invested in fossil fuels, tobacco or arms. In the U.S., just 14 public pension funds inject $82 billion each year into...

December 6, 2022
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06Dec

How Access To Retirement Plans (or Lack Thereof) Is Preventing Americans From Having Adequate Savings

Access to a workplace retirement plan typically prompts more people to save, but many Americans don’t even get the chance. This problem has to do with the current retirement system, as more employers opt for 401(k) plans and other similar retirement accounts over pensions, putting the responsibility of saving on the workers instead. “There are too many Americans who don’t have that future stability,” U.S. Secretary of Labor Marty Walsh said at an event hosted by the Employee Benefit Research...

December 6, 2022
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