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Barclays Bank UK Retirement Fund integrates ESG and climate risk into £1.3bn DGF
The Barclays Bank UK Retirement Fund (Barclays UKRF) has integrated ESG factors and climate risk into a £1.3bn diversified growth fund (DGF) portfolio used for its defined contribution (DC) scheme.
The DGF - managed by BlackRock s factor-based strategies group - is the main building block within the default option of the Barclays UKRF s DC plan.
The trustees of the scheme said the integration reflects the scheme s responsible investment policy and introduces explicit focus and application of ESG factors into investment decisions to better manage risks, including climate change, and generate sustainable, long-term returns for members.
Barclays inks $6.6 billion longevity swap deal for U.K. pension fund
Bloomberg
Barclays Bank U.K. Retirement Fund, Redhill, England, insured £5 billion ($6.6 billion) in liabilities through a longevity swap with Reinsurance Group of America, a Barclays spokesman said.
In its first longevity swap, the fund protected its participants benefits from the impact of an unexpected increase in the life expectancy of current retirees. In addition to the material reduction of deficit revealed at the 2019 actuarial valuation, the longevity swap is another significant step in our derisking journey for the UKRF, improving benefit security for all members, Peter Goshawk, chairman of the fund s trustees, said in a news release.