Mercer –
Ashok Gupta has been named chair of Mercer’s UK board. Selected for his extensive board and executive experience in the financial services industry, across asset management, wealth management and the pensions segments, Gupta will also chair the risk committee and the nominations committee.
An entrepreneur with over 40 years of experience in the UK insurance and financial services industry, Gupta has held a number of senior executive, advisor and actuarial positions during his career.
He chaired a Pension & Lifetime Savings Association taskforce that recommended superfunds, defined benefit consolidators for which there is now an interim regulatory regime. Gupta was also deputy chair of a Bank of England working group on procyclicality by pension funds and insurance companies.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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The London Fund secures one third of its £300m targeted offering
Further material commitments could see a second close in 2021 to bring the fund to capacity
The London Fund has completed its first close after securing £100m investment from the London Pensions Fund Authority towards its £300m targeted offering.
The London-focused investment fund - set up by Local Pensions Partnership (LPP) Investments, London CIV and the London Pensions Fund Authority (LPFA) - is set to focus on developing residential property and affordable housing as well as community regeneration, digital infrastructure, and clean energy to improve the quality of life for London communities.
By Susanna Rust2020-12-17T13:53:00+00:00
The London Pensions Fund Authority (LPFA) is investing £100m (€109m) in the London-focussed investment fund it and two local authority pension pools are launching.
London CIV has teamed up with Local Pensions Partnership (LPP) and LPFA to create the fund, which will focus on investment opportunities in the UK capital in residential property – specifically build-to-rent – and affordable housing, community regeneration, digital infrastructure, and clean energy.
The targeted offering for the fund – The London Fund – is £300m.
“Further material commitments from several London CIV client funds could see a second close in 2021 to bring the fund to capacity,” the fund partners said in an announcement.