Transport for London, the organisation behind the network of buses, underground or “tube” trains, trams and bicycles that keep the United Kingdom’s capital city on the move, has a reputation for its generous employee benefits. But of all the staff perks on offer, including 30 days holiday a year and subsidised travel expenses, membership of
The richest seam in the UK’s pension landscape traces the M62 corridor, a motorway that threads east to west across northern England beginning in Liverpool and taking in Manchester, Bradford and Leeds. These cities are home to the biggest local authority pension schemes in England and custodians to a vast cluster of wealth. “Merseyside, Tameside,
Peter Wallach, head of the United Kingdom’s Merseyside Pension Fund isn’t overly worried about the recent fall in equities. “Markets are being driven by liquidity from central banks; this is more about central banks just needing to reassure investors,” he says. “It is bonds, to our mind, that are over-valued in the medium to long
The London Business School’s emeritus professor of finance Paul Marsh admits that you have to be slightly mad to embark on the kind of research detailed in the latest edition of Global Investment Returns Yearbook. This year Marsh and colleagues Elroy Dimson and Mike Staunton – Marsh describes the three of them, pictured below, as
Australia, the US, Canada and Denmark have all done it. Kazakhstan and even Oman are talking about it. Increasingly, public sector pension funds are merging or pooling their assets into fewer bigger schemes. It’s no surprise the debate is gathering momentum in the United Kingdom, ripe for consolidation with a Local Government Pension Fund Scheme
The rise of smart beta has just got another boost thanks to a study commissioned by Norway’s ministry of finance for its Government Pension Fund Global. It asked index provider MSCI to look into the feasibility of running smart beta strategies for large portfolios. Very few institutions with the size of GPFG’s $400-billion equity portfolio
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