AXA Investment Managers (AXA IM) has adopted sustainability improver labels for its fixed income carbon transition funds as part of the Financial Conduct Authority (FCA) 's UK sustainability disclosure requirements (SDR) regime.

The funds are among the first fixed income products to adopt an SDR label, which aims to provide end investors with the opportunity to align their fixed income investments with their sustainability goals. AXA IM's SDR-labelled range has so far £1.2bn in assets invested across fixed income and equities, representing just under 15 per cent of its UK-domiciled fund range. These include four' sustainability improvers' (two carbon transition fixed income strategies and two sustainable equity strategies) and one sustainability impact' label (a people and planet equity strategy). The carbon transition framework used in the SDR sustainability improver' labelled funds is also leveraged in AXA IM's segregated fixed income portfolios managed on behalf of UK institutional clients.

Schroders has appointed BNP Paribas as an asset servicing partner for two UK qualifying asset holding company (QAHC) fund structure launches.

BNP Paribas will operate on behalf of Future Growth Capital (FGC), a private markets business formed by Phoenix Group and Schroders plc to provide UK pension schemes with access to UK and global private markets. It will provide fund administration, global custody, and loan administration services during the launch of the new fund structures. FGG is the first private market investment business established in the UK to promote the Mansion House Compact's objectives of delivering better pension outcomes for UK savers from private market investments. BNP Paribas' Securities Services business will support the two new QAHC fund structures by providing its full suite of global private capital offerings in this strategic mandate. The service aims to combine BNP Paribas' fund services, depositary, and loan administration services through its integrated bank model, enabling access to Securities Services' global solution suite while benefiting from its local asset servicing expertise.

Standard Life has announced its intention to extend the trustee accelerator programme across the industry as it marks its fifth anniversary.

Since its launch, all 12 trainees from the programme's inaugural cohort have continued their learning journey through formal training with the Pensions Management Institute (PMI), a mentor programme and trustee and board shadowing opportunities. The programme has received support from organisations such as the PMI, Nest, USS, SAUL, Standard Life's Master Trust Board, Independent Governance Committee (IGG), and clients such as Amey. Standard Life trustee accelerator programme sponsor and head of master trust and IGG, Donna Walsh, commented: "Reaching the halfway point with our first intake of trustee trainees is a considerable milestone...With momentum building month-on-month, we are pleased to reveal that we are working with the PMI and other industry groups to extend the trustee accelerator programme across the industry, at scale, to create even further opportunity and inclusivity in the make-up of pension boards in the future."

Dalriada Trustees has partnered with Heka, an artificial intelligence (AI) tracing specialist, to locate previously untraceable victims of pension scheme fraud.

The partnership comes after Dalriada was appointed by The Pensions Regulator (TPR) to investigate how three pension schemes were set up and run. After its appointment, Dalriada received confirmation that the schemes were eligible to receive compensation after the fraud compensation fund (FCF) established that the members suffered material loss from fraud or dishonesty. Subsequently, Heka partnered with Dalriada to identify the contact details, life status, and next-of-kin analysis for previously untraceable victims for one scheme, completed in under two weeks. Work is now commencing for the other two. More extensive AI searching capabilities and sophisticated cross-verification techniques allowed Heka to identify high-precision results despite a lack of available member records.

L&G has announced a $50m renewable energy investment with Landsvirkjun, Iceland’s national power company, on behalf of L&G’s Institutional Retirement business.

The investment is part of a broader $150m issuance by the energy provider and follows multiple corporate debt investments in the clean energy company since 2018, including the company’s debut $200m green bond in the US private placement market. Following significant client demand, Landsvirkjun will continue expanding Iceland’s renewable energy infrastructure through new plants and upgrades to existing hydroelectric, geothermal, and wind facilities. L&G head of Europe corporate debt, Steve Bolton, commented: “We’re delighted to strengthen our relationship with Landsvirkjun and support their continued delivery of renewable energy infrastructure. Our deep expertise and longstanding relationships allow us to access attractive investment opportunities that drive meaningful social and environmental impact, delivering value for investors and society.”

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