News in brief – 3 July 2020

The Tyne and Wear Pension Fund, which is administered by South Tyneside Council, has invested £650m in the Future Work Index Equity Fund range.

The fund is managed by Legal & General Investment Management (LGIM) and is part of the council’s commitment to generating sustainable long-term returns in a responsible manner. It offers broad exposure to global equities and is designed to favour those companies with higher governance standards that aim to achieve positive social and environmental impacts.

RiskFirst has announced the integration of guaranteed minimum pension (GMP) capabilities into its defined benefit (DB) scheme analytics platform, PFaroeDB.

By adding this feature, RiskFirst hopes to help clients address the requirements of GMP equalisation. UK employee benefit consultants using the PFaroeDB solution are now able to access member-level GMP equalisation capabilities within a fully integrated valuation system, alongside a suite of DB pension scheme analytics tools that enables daily valuations, hedging, measurement of risk exposure and asset and liability management.

Gresham House has secured total commitments of £300m for its British Strategic Investment Fund (BSIF), reaching the upper limit of the final fundraising target for this strategy.

BSIF is a real assets portfolio investing in sustainable UK housing and infrastructure, with a focus on the smaller mid-market, via investments in local and regional projects. Since the interim close in September 2019, the strategy has attracted new commitments from the Worcestershire Pension Fund, the Greater Gwent Pension Fund, and the West Midlands Pension Fund.

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