News in brief 20 April

The Northern Pool partners with Northern Trust for £46bn mandate

The Northern Pool, comprising of the Greater Manchester Pension Fund, West Yorkshire Pension Fund and Merseyside Pension Fund has appointed Northern Trust to provide a range of custodial and administration services, including securities lending, private equity fund administration, compliance monitoring and carbon reporting. The Northern Pool is one of the largest of eight local government pension pools in the UK, with £46bn of assets under management.

The Pensions Management Institute announces three new insight partners

The Pensions Management Institute has announced three new insight partners to offer specialist support to its members. Legal & General will serve as an insight partner for pension risk transfer, Squire Patton Boggs as a full-service legal insight partner and P-Solve as insight partner for fiduciary management and investment governance.

Legal & General Investment Management steps up ESG focus

LGIM has increased pressure on its boards to address climate change, diversity and other ESG challenges. In its annual Corporate Governance report, LGIM detailed its efforts to encourage positive change in the companies and markets in which it invests. It noted that over 370 corporate meetings in 2017, LGIM worked to enhance interest in environmental, social and governance issues globally. Board composition, executive pay, climate change and succession planning were among the top themes discussed, with transparency also rising up the agenda, it said.

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An alternative approach
Laura Blows speaks to NEST’s CIO Mark Fawcett to discuss its investment into alternative asset classes