October 2018

26Oct

Namibia: Pension Funds Could Boost Economy Through Infrastructure Fund

"Investing in scary times" was the theme of an event held by Eos Capital, a private equity manager, in Windhoek on Tuesday. Speaking at the event was the CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), Tanya van Lill, with the key message that pension funds in Namibia can find attractive and safe returns during these times by investing in private equity and infrastructure funds while also helping to stimulate the economy. Pension fund assets as...

October 26, 2018
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26Oct

US. New York state sues Exxon Mobil for deceiving investors on climate-regulation risk

Company engaged in fraudulent behavior that went all the way up to ex-CEO Rex Tillerson, who went on to serve as Trump’s first secretary of state New York Attorney General Barbara Underwood has filed a lawsuit against energy giant Exxon Mobil Corp., alleging that it misled investors about the true risks to its business posed by climate-change regulations. The suit comes after a roughly three-year probe and does not charge the company XOM, -1.03% with contributing to climate change as a...

October 26, 2018
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26Oct

South African state pension fund CEO denies corruption allegations

The chief executive of South Africa’s state pension fund denied corruption allegations on Thursday, as a judicial inquiry into governance at the 2 trillion rand ($137 billion) fund prepares to get under way. The Public Investment Corporation (PIC) is Africa’s biggest pension fund and the biggest investor in South Africa’s economy, holding a large volume of bonds issued by government and state-owned firms and equity stakes in some blue-chip companies. President Cyril Ramaphosa ordered an inquiry into the fund after opposition...

October 26, 2018
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26Oct

UK Regulators Issue Joint Pensions Strategy

The UK’s Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have launched a joint regulatory strategy to address the fundamental changes that have altered the UK’s pension landscape in recent years. The strategy, which outlines how the two regulators will collaborate,, drew on a call for input the regulators published in March that sought views from industry and consumer group representatives. “Our goal is to ensure the people who run workplace pensions meet our expectations so that members can have...

October 26, 2018
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26Oct

Nigeria. Government Meets Labour Over Wage Saga As Pensioners Threaten Protest

The Secretary to the Government of the Federation (SGF), Boss Mustapha, has met with organised labour over the minimum wage imbroglio. The Guardian learnt yesterday in Abuja that the meeting with the president of Nigeria Labour Congress (NLC), Ayuba Wabba, and his Trade Union Congress (TUC) counterpart, Bobboi Kaigama, was to avert the October 30 rally and November 6 nationwide strike by the unions. It was also learnt that the scribe demanded a full account of what transpired during earlier negotiations...

October 26, 2018
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26Oct

Japan. AI to transform GPIF manager selection

AI will transform the way Japan’s ¥158 trillion ($1.4 trillion) Government Pension Investment Fund (GPIF) to select and monitor its asset managers. The world’s biggest pension fund, which outsources all its investment management, announced plans last year to use AI to better scrutinise its poorly performing active managers. Since then, AI specialists Sony Computer Science Laboratories and GPIF have developed a proof-of-concept prototype that uses deep learning to study manager styles and strategies. The latest progress report on the project promises...

October 26, 2018
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25Oct

Manama to host 3rd MENA Pensions Conference next week

What is the prevailing situation of pension globally and patterns of evolution in this vital sector? Are actuarial deficits in pension funds (globally) real or inflated, and how should they be understood? Can financial markets be a complementary alternative through meaningful pension products, and how should they be designed? Does the current legislation of financial regulators contribute to a flourishing pension industry? What are the best assets and asset allocations for pension investments? What is the digital ecosystem “Fintech”...

October 25, 2018
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25Oct

UK. Prudential Closes $3.2 Billion in New UK Longevity Reinsurance Deals

Firm says market for pension de-risking is expanding at its fastest pace in years. US-based Prudential Retirement, a unit of insurance giant Prudential Financial, has concluded $3.2 billion in previously undisclosed longevity reinsurance contracts, which the company says is another sign that pension de-risking activity in the UK is continuing at a brisk pace. As part of the transactions, Prudential assumes the longevity risk for approximately 13,200 British retirees. “The market for pension de-risking solutions is expanding at its fastest pace in...

October 25, 2018
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25Oct

MIT Center launches contest to develop new type of retirement plan for the public sector

The MIT Golub Center for Finance and Policy will distribute a prize pool of $20,000 to the winners The Golub Center for Finance and Policy (GCFP) at the Massachusetts Institute of Technology (MIT) is launching a contest to generate strategic proposals aimed at enhancing retirement plans covering millions of public sector workers across the US. A prize pool of $20,000 will be distributed to the winners who propose the most well-reasoned, prudent and implementable strategies. Everyone is eligible to participate....

October 25, 2018
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24Oct

A grey area: Asia’s elderly

Asia’s ageing population will come under discussion today at a conference in Tehran, co-hosted by the Iranian government, the United Nations and HelpAge International, an NGO. Unlike the West, some Asian countries will grow old before they get rich. Deloitte, a consultancy, reckons that by 2030 the region will account for three-fifths of the world’s over 65s. The elderly are living longer with better access to health care. Younger ones are marrying late, causing fertility rates to drop sharply....

October 24, 2018
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