News in brief - 3 September 2021

Pension Insurance Corporation (PIC) has invested £67m in affordable housing in Bromley.

The investment will be used to purchase up to 300 affordable properties to help alleviate local emergency homelessness. PIC said it would “significantly reduce” the council’s current cost of emergency nightly accommodation for families in need of temporary accommodation. The funding concept is part of LBB’s Housing and Homelessness strategy, and the properties will be managed by specialist housing group, Orchard and Shipman.

Aegon has announced a knowledge transfer partnership with the Edinburgh Futures Institute and the Business School at the University of Edinburgh, to develop a new approach to financial engagement.

The two-year project will see experts from the institutions collaborate to examine how connecting with the future can ultimately help improve people’s relationship with money. The project will involve Aegon’s centre for behavioural research working with academics from the Business School incorporating the latest insights from anthropology and neuroscience, to understand the topic of financial wellbeing linked to people developing "a more concrete picture of their future selves".

PGIM has launched a new fund, the PGIM Jennison NextGeneration Opportunities Fund.

Managed by PGIM’s active equity manager, Jennison Associates, the fund aims to invest in high-growth opportunities across small- and mid-sized companies. The investment team seeks to identify and invest early in businesses with “unique products and services”, unearthing secular themes that are driving growth in the next generation economy. Taking a global- and region-agnostic approach, the team looks to discover companies that are starting to experience rapid growth but have yet to be fully appreciated by the wider market.

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