Briefings
Updates
Over the month of March, it was hard to avoid the financial consequences of coronavirus with all but the most secure asset classes (government bonds and gold) falling in value. However, conditions improved significantly over the final days of the month and further information is provided in this briefing.
Read moreVolatility has hit financial markets as coronavirus spreads across the globe. In this update, we present some statistics to help you put recent financial developments into context.
Read moreLDI funds offer an efficient way for pension schemes to gain exposure to the gilt market (to ‘match’ liabilities), without tying up too much money. In light of the continued falls in gilt yields, we review whether the LDI approach of borrowing cash to buy gilts remains an appropriate approach...
Read moreSuperfunds are one of the more interesting DB consolidation solutions to emerge recently. Essentially they involve a third party providing additional capital to replace the covenant of the sponsoring employer. We take a detailed look at how superfunds work and whether you should be considering them for your scheme.
Read moreNew legislation, issued by the DWP, requires trustees to update their Statement of Investment Principles by 1 October 2019. The SIP must explain how trustees take into account financially material matters over the appropriate, potentially long, time horizon of the scheme's investments.
Read moreAs Defined Benefit pension schemes become increasingly mature, more and more of them are moving into negative cashflow, i.e. paying more out in benefits than they receive in contributions. This quarter James Gardner and Russell Oades from our investment team discuss the impact of moving into negative cashflow.
Read moreWhat are the most interesting opportunities in climate-related investment right now? In this briefing we reproduce the contributions Rob Skelton, Head of Investment Research, made to a recent Climate Investing Roundtable. A full version of the panel discussions is also available within the briefing.
Read moreGuidance on how pension schemes can gain access to private market investments, along with our quarterly market performance analysis.
Read moreThe Financial Conduct Authority (FCA) recently investigated whether fund ratings, provided by investment consultants, provide value to clients. In this quarter’s Investment Briefing, we discuss the CMA’s main findings.
Read moreDominic West, the latest graduate to join our investment team, speaks with Rob Skelton and Tiksha Kaul about issues of particular interest in fund management today and what it's like working in this area.
Read moreIn the wake of the FCA investigation into Newton Investment Management, we give our own analysis of the situation and provide information for those who may be affected.
Read moreIn 2016 the Financial Stability Board set up a Task Force to assess climate change risk. In this briefings, we discuss the implications of the Task Force's recently-published recommendations. We also look at the investment case for funds focused on Environmental, Social and corporate Governance (ESG), highlighting investment options in...
Read moreRyan Templeton from our Investment team speaks with Rob Skelton, who leads our investment research, and Phil Kelly from our buy-out team about annuities as a potential investment.
Read moreIn this briefing we ask – is now a good time to invest in property? January 2017 saw inflows of £434m into European property, the majority of which were to UK-centred property funds. Property has performed strongly over recent years, but does this mean that a crash is due?
Read moreThe decision to hedge, or not to hedge, currency exposure is an important one. Following significant change in the value of sterling, we take a timely look at the factors pension schemes should consider.
Read moreUK Corporate bonds are an important investment component for many schemes. In view of the role of quantitative easing in pushing prices up, we ask: should trustees sell their UK corporate bonds and invest the profits elsewhere?
Read moreWe look at the impact of the EU referendum result on financial markets at the time of writing, and discuss potential actions for trustees to consider.
Read moreUncertainty is the only certainty when it comes to the forthcoming EU referendum. However, that uncertainty may provide opportunities for pension schemes to lock into an improved funding position. We look back at the Scottish independence referendum of 2014 for lessons learned, and recommend 4 actions to consider.
Read moreConcerned about the risk of an Employer contribution increase as a result of high liabilities, Trustees of the Kennel Club Pension Fund turned to First Actuarial.
“They’re extremely professional and helpful. Their input always seems sound, logical and well presented. First Actuarial handled the transition well, they provide us with helpful guidance, and have delivered what they promised when they pitched for the work.”
The RSPB was determined to minimise the impact of its new defined contribution scheme on employees, and appointed First Actuarial to support the transition and select a provider with strong ethical values.
“I would definitely recommend working with First Actuarial. Their consultants went over and above the call of duty to make sure the project progressed smoothly.”
Taking responsibility for care services previously provided by a local authority, Bolton Cares turned to First Actuarial for help in setting up a competitive and affordable DC pension scheme for its staff.
“They’ve been really helpful and professional throughout the project, and we’ll use them again if we need specialist advice.”