News in brief - 18 February 2022

Standard Life, part of Phoenix Group, has partnered with Cushon to offer access to a wider range of savings and investment options.

The Standard Life Workplace Savings Proposition will provide employers with the option of offering their employees access to a range of saving options, from ISAs, lifetime ISAs (LISA) to junior ISAs (JISA) and a general investment account (GIA). Its workplace individual savings account (WISA) will offer a range of ready-made portfolios as well as over 1,000 individual funds from 90 fund managers, with environmental social governance focused options included.

Cardano and Big Society Capital have joined forces to direct up to £195m of new investment towards real estate fund strategies, to help address the UK housing crisis.

The firms are calling on real estate fund managers to participate in a joint request for proposals focused on fund strategies that increase the supply of good quality, affordable housing in the UK -alongside a generating a market rate financial return. The organisations aim to expand the market through Big Society Capital’s own investments combined with Cardano’s client investments, as well as facilitating additional institutional investment alongside them.

Legal and General Retirement Institutional (LGRI) has announced plans to invest £2.5bn into Build-to-Rent (BTR) schemes over the next five years.

LGRI said that this will help “to tackle the UK’s housing crisis by using pension funds to deliver thousands of new homes”. Over 7,000 new homes will be built, with the first residents expected to move into the Hove and Southampton developments in 2024.

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