All Pensions articles – Page 2
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White papersSolid equity performances keep funding ratios on a high
Despite experiencing volatility in Q3 2024, markets demonstrated resilience with largely positive returns. The decrease in liability discounting rates in Q3 compensated these good performances, and funding ratios have been mostly stable over the period, still at comfortable levels.
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White papersEuropean Securitisations: Risk and Opportunities for Pension Funds
European Securitisations have recently attracted attention, with 2024 to date seeing record volumes of issuance since the Great Financial Crisis. European regulators have also shown strong support through several recent reports (from Noyer, Letta and Draghi), which have led to a public consultation from the European Commission. We review the opportunities and the associated risk of European securitisations for pension funds.
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White papersBeyond the Numbers: ESG in Action
As the 2024 Amundi-CREATE report highlights, the private markets asset class is particularly suitable for responsible investing. This article explores how an investor in private assets, such as Amundi Alpha Associates, can approach and refine responsible investment capabilities, as well as the practical steps taken to integrate ESG factors into their portfolio monitoring processes.
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White papersSeeking returns in private markets and emerging markets in a disruptive era
As pension investors transition to a new regime, one question has come to the fore: where will the returns come from?
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White papersPension Funds Letter 22 - New realities, new searches for returns
Amongst other things, 2024 will be remembered for being the year of elections. More voters than ever before, over half the world’s population, had the opportunity to express their vote this year. While almost all these votes have now been counted, what the different outcomes will mean both domestically and more globally is only likely to become clear next year. We wait especially with bated breath, to see how Trump 2.0 will play out around the world.
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White papersCharting the unpredictable: Harnessing data-driven solutions to enhance investment decision making
Pension funds, long regarded as the bedrock of long-term financial security for millions of workers worldwide, are currently navigating an increasingly tumultuous landscape. Traditionally conservative in their investment strategies, these institutions now face a confluence of challenges that demand innovative thinking and strategic foresight.
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White papersMaking sense of corporate bond spreads
Pension scheme funding ratios have improved significantly, due to a rise in yields since the start of 2022, and continued growth asset performance. This has resulted in many taking the next steps towards their chosen endgame by topping up liability hedge ratios and simultaneously increasing allocations to corporate bonds.
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White papersUK Pension Reform: The Case for Further Consolidation
How the government’s review can help to deliver portfolio diversification and enhanced risk-adjusted returns.
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White papersLifestyling: the Achilles heel in DC pensions
Why too much derisking – the accepted orthodoxy in UK defined contribution pensions – is a bad thing
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White papersOutlook 2025-2027: Resilient recovery in a challenging environment
The real estate market is recovering resiliently and new opportunities are emerging for institutional investors. However, the investment climate remains challenging. This is the conclusion of Achmea Real Estate’s Outlook 2025 - 2027, the first part of which has just been published.
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White papersEuropean ABS: A compelling tool for DC default strategies
Asset-backed securities are often a misunderstood asset class, despite having many compelling characteristics including a potential return premium and a defensive capital structure.These, in our view, make them well-suited as a tool for inclusion in defined contribution (DC) default strategies.
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White papersPrioritizing DC Plan Participant Outcomes with Private Real Estate
Most retirement plan sponsors and fiduciaries design well-thought-out, diversified portfolios for retirement plan participants. However, in comparing U.S. defined benefit (DB) and defined contribution (DC) plans, we notice differences in private asset allocations, in particular, to private real estate, despite both plan types seeking to solve for the same goal: income replacement in retirement.
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White papersEndgame – the benefits of ‘buy and maintain’ credit
Due to higher gilt yields, many defined benefit pension schemes are now in a stronger funding position than they were a few years ago. To secure this improved status, schemes are looking to reduce investment risk by decreasing equity holdings and focusing on assets that will more likely provide the necessary cashflows to pay pensions.
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White papersA circular economy approach to protecting the ozone layer
Pension schemes can play a key role in shaping the future by investing in private markets, while providing members access to a broad spectrum of innovative companies on a mission to make a difference. Here we look at how one business is providing key solutions to protect the ozone layer by reducing greenhouse gas emissions in refrigeration while actively promoting the circular economy across domestic and industrial processes.
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White papersThe Generational Divide
Leveraging data from the Retirement Survey & Insights Report 2023, this supplemental report examines the challenges faced by each working generation (working Baby Boomers, Generation X, Millennials, and Generation Z) in an effort to better understand their retirement journey.
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White papersPension Funds Letter 21 - All together to talk “Adaptation in Motion”
Four years ago, the Covid-19 pandemic brought about an instant and permanent shift in the way many of us work. Virtual communication has replaced much of the face-to-face contact that we had previously been accustomed to. While the convenience and savings of web-conferencing means it’s a trend that’s here to stay, in-person interaction still retains many benefits.
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White papersUK DC Pensions: Overcoming the Hurdles to Investing in Private Markets
Historically, UK DC pension plans have struggled to invest in private markets. We’ve found that where there’s a will, there’s a way.In today’s challenging environment for DC pension savers, allocating to private markets can help improve return potential. Implementing an allocation to private markets in DC pensions isn’t straightforward, but it can be done. The secret? A combination of experience, ingenuity and an appropriate choice of investment vehicle.
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White papersWhy Allocate to Private Credit in Your DC Pension Plan?
Saving for a pension isn’t getting any easier. But allocations to private assets—such as private credit—could help. It’s getting harder for UK defined contribution (DC) savers to accumulate realistic amounts of capital for their retirement.Prospective real returns from most asset classes look unlikely to match those of recent years. And the cost-of-living crisis is making it tougher for savers to maintain their current pension contributions, let alone increase them in future. How can DC savers get ahead?
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White papersA bigger splash: How much liquidity do I need?
The importance of holding liquidity is well understood by large institutions. But how much is enough? In the first part of our new article series on liquidity optimisation, Alastair Sewell investigates the key considerations for different investor types.
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