Green finance has long been becoming more and more popular as the race to save our planet is increasingly important. For years now we’ve heard about how we all need to do our bit to slow the rapid pace of global warming and it seems like the message has taken a hold of the fintech world. There’s a growing trend among firms in the sector to operate in a more eco-conscious manner, from planting trees to offering fossil-fuel-free investment options, the...
Whether you think Bitcoin and other cryptocurrencies are a scam or an economic revolution, you are becoming increasingly exposed to them as financial institutions incorporate them into payments and investments. This year, both Mastercard and Visa have announced plans to allow payments using cryptocurrencies, and the US’s oldest bank, BNY Mellon, has begun accepting cryptocurrencies for its asset management clients. And with the cryptocurrency platform Coinbase selling shares from today via a direct listing on the Nasdaq stock exchange,...
By Zorast Wadia, Alan H. Perry, Charles J. Clark The 2021 edition of the Milliman Corporate Pension Funding Study (PFS) is our 21st annual analysis of the financial disclosures of the 100 U.S. public companies sponsoring the largest defined benefit (DB) pension plans. These 100 companies are ranked highest to lowest by the value of their pension assets that are reported to the public as of the end of fiscal year 2020, to shareholders, and to the U.S. federal agencies...
Dutch pension funds reported substantially higher returns on their direct real estate returns in 2020 than on their investments in listed real estate equities during the same period. Despite the heavy losses in segments of the real estate market as a result of the coronavirus lockdowns, the value of Dutch pension funds’ direct real estate investments as reported to pensions regulator De Nederlandsche Bank (DNB) increased by 1% to €83.5bn compared with a reported decrease of 7% to €56.7bn for listed real estate. The...
New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund’s Comptroller Thomas DiNapoli said on Monday. The New York State Common Retirement Fund will divest more than $7 million in securities already held in the companies, and not make any further investments in them, DiNapoli said in a statement. Canada’s oil sands hold the world’s third-largest crude reserves and have...
The Pension Superfund is an interesting development for employers and employees in the United Kingdom and is beginning to become relevant in all of Europe. Insurers have recently been given the green light to offer the superfund and several insurers are already putting this in place for their customers. These Pensions represent a new and highly regulated 'vehicle' designed to consolidate UK occupational Defined Benefit (DB) pension funds. The superfund is achieved using a novel new method that accepts bulk...
Canada Pension Plan Investment Board (CPPIB) said on Tuesday it will create a new investment group that focuses on sustainable energy, in a bid to boost its portfolio of renewable energy investments. Read also The U.K.’s policy on overseas pensions is costing Canadian taxpayers Pension and infrastructure funds have been investing more in the renewable energy space, given the steady returns such assets generate, amid a push for tackle climate change. The new group, Sustainable Energy Group (SEG), will combine Energy &...
Dutch pension giant PGGM doubled down on its investment in Australian commercial real estate, putting $350 million into a diversified fund managed by EG less than six months after entering into an $800 million partnership with Charter Hall. PGGM joins four other investors in the open-ended diversified EG Australian Core Enhanced Fund (ACE) which in the past two years has spent $234 million on three industrial properties, a Bunnings near Sydney Airport and a Perth office tower. Read more @Financial Review 505...
By Chikafumi Hodo, Emi Urabe Japan’s Government Pension Investment Fund, the world’s largest pension pot, considers the impact of its investments on markets and isn’t distorting the country’s stocks, said Hirohide Yamaguchi, the newly appointed chairman of the fund’s board of governors. Yamaguchi, a former deputy governor of the Bank of Japan, said also that it was important to look at the fund’s long-term returns, rather than focusing on the short-term. He spoke in Tokyo at his first press conference since...
By Hari Bhambra American asset managers with little connection to Europe might dismiss the European Union (EU)’s new sustainable finance regulations as irrelevant to their business. They would be mistaken to do so, however. The regulations will have a tremendous impact on asset managers and firms operating outside the bloc. The EU might be the first to move on sustainable finance regulations, but its objectives are a harbinger of things to come around the globe. To stay competitive in today’s borderless financial...
