- Actions speak louder than words: Society of Pension Consultants president Roger Mattingly
- Aquila launches first fixed income risk parity fund
- BlackRock reorganises DC business and names Purvis as ‘CEO’
- Building steadily: what next for infrastructure?
- LGPS infrastructure investment limits set to double
- Mannion quits GSK to join John Lewis
- NAPF Conference: PIP to appoint chief executive
- Neil Woodford leaves Invesco after 25 years
- NEST in talks to join infrastructure platform – EXCLUSIVE
- No place like home: investing in residential property
- PIP begins search for investment managers
- Prevailing odds
- QE uncertainty hurting insurers’ income streams and driving them into riskier assets, says BlackRock
- Regulator issues asset-backed contribution guidance
- Schemes continue move out of equities
- Schemes shift from equities to bonds, hedge funds and cash, says regulator
- Schroders launches ILS fund
- Seeking returns: insurance companies and the low yield dilemma
- Shiller shares Nobel Prize for asset price analysis
- Sovereign debt: the gorilla in the room
- Tesco’s Smith announced as new NAPF chairman
- Threadneedle launches social bond fund
- Unconstrained investing: is freedom from indices the future?
- USS invests £392m in Heathrow Airport
- Watching out for the risk/return trade-off: Zurich Insurance Group’s Tom Rogers
An influential group of investors, including trade bodies, asset managers and companies, has launched an industry-wide forum aimed at promoting long-termism and collective action in institutional investing.
The changes to state pension age (SPA) announced in yesterday’s Autumn Statement won’t have come as a surprise to many in the industry. By increasing SPA to 68 in the mid-2030s – about 10 years earlier than expected – and to 69 in the late 2040s, George Osborne expects to save £400bn over the next 50 years.
One of the much touted benefits of investing in private equity was its low correlation to other asset classes, particularly public equities. Thus private equity made its way into many institutional asset allocations in the 1990s because of its presumed diversifying effect within portfolios. To some extent this was correct; valuations of private equity investments were, at that point, generally held at cost until an actual realisation event. Specifically, they were not adjusted up or down even in rising or falling equity markets. The theory was that illiquidity made private equity not only “alternative” but also uncorrelated.