Latest news with #pensionfunds
Yahoo
18 hours ago
- Business
- Yahoo
Northern Trust Appointed Custodian for Dutch Pension Fund BPF Beton
Appointment Underscores Commitment to Supporting Dutch Pension Funds Migrating to New Pension System AMSTERDAM, June 02, 2025--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today that it has been appointed by Dutch pension fund BPF Beton to provide global custody, regulatory reporting, valuation and accounting, and performance analytics. BPF Beton is the industry pension fund for people working in the concrete products industry in the Netherlands with approximately EUR 1.2 billion (approximately US$1.2 billion) in assets as at 31 December 2024. Herman Prummel, country head, Netherlands, Northern Trust, said: "We are pleased to be supporting BPF Beton. Northern Trust has been servicing Dutch pension clients for four decades and is a long-term strategic partner to the pensions industry. With our deep local market expertise, global scale, data and technology platform, Northern Trust is committed to the Dutch pensions industry and its evolving needs. This mandate showcases our regional commitment and expertise in ensuring a seamless, efficient transition to the new reporting standards. We look forward to working with BPF Beton and continuing to serve the needs of the Dutch pension fund industry." The pension system in the Netherlands is migrating to a defined contribution system, known as the Future of Pensions Act or 'Wet Toekomst Pensioenen'. BPF Beton sought an asset servicing partner that could help them through the changes brought on by the new legislation. Govert van der Peijl, president and chairman of BPF Beton, said: "This transition is complex and large scale. We sought a strategic service provider who understands the requirements under the new legislation and who can support us navigate this new landscape. Northern Trust impressed us with their rapid response to the new legislation and their dedication to the Dutch pension fund industry. We are pleased to collaborate with Northern Trust and look forward to their support as our scheme embarks on the next chapter of its journey to deliver the best possible outcomes for our members." About BPF Beton BPF Beton is the sectoral pension scheme for employees active in the manufacturing industry for concrete products. Based in Amsterdam, they represent over 25,000 members as at 31 December 2024. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at View source version on Contacts Media Contacts Europe, Middle East, Africa & Asia-Pacific: Camilla Greene+44 (0) 20 7982 2176Camilla_Greene@ Simon Ansell+ 44 (0) 20 7982 1016Simon_Ansell@ US & Canada:John O'Connell+1 312 444 2388John_O'Connell@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
4 days ago
- Business
- Forbes
How Institutional Investors Are Ramping Up Climate Investments In 2025
In today's investment landscape, large institutional investors are increasingly matching capital with a clean energy future. A recent Mercer Investment study of 74 large asset owners-- with more than $2 trillion in assets--found that 70% now integrate responsible investment goals into their strategies, a seven percentage jump from last year. Despite shifting rhetoric in some corners of the market, momentum continues to build. The Mercer study underscores this powerful trend—a growing majority are not only setting clear responsible investment goals, they're also increasing how much they allocate to those investments. Responsible Investment Goals Now Central to Portfolio Strategy From New York to Oregon to Ontario, asset owners-- the investors that include pension funds, endowments, insurers, sovereign wealth funds, and wealth managers--are making clear that managing climate risk and seizing investment opportunities are central to long-term fiduciary duty. In 2025, that's translating into investors pouring more capital into climate solutions at scale, reporting progress on portfolio emissions, and supporting public policies that enable a future-ready economy. Major Pension Funds Raise Expectations for Asset Managers Across North America, public officials and investment leaders are raising the bar for themselves-- and the asset managers they do business with. In April, New York City Comptroller Brad Lander, who oversees the city's pension funds, laid out clear transition plan expectations for investment managers. Asset managers working with the New York City Employees Retirement System, the Teachers Retirement System, and Board of Education Retirement System must deliver credible, detailed transition plans—or he would recommend putting those managers' investment mandates out to bid. Highlighting the financial stakes for states and the public funds they manage, Maryland's state comptroller released a report in April on how inaction on extreme weather issues is straining the state's economy and budget. Economic impacts include workforce disruptions, agricultural losses, tourism declines, supply chain disruptions, infrastructure damage, and loss of essential services. And underscoring the critical role of policy advocacy in helping asset owners meet their fiduciary duty, Oregon State Treasurer Elizabeth Steiner backed state legislation introduced in January to strengthen the Treasury's ability to manage risks. The bill supports the Treasury's ability to pursue the near- and long-term investment strategies needed to reduce climate-related investment risks and protect the Oregon public employee retirement fund. Momentum is also strong north of the border. In February, a group of Canadian asset owners representing CAD 53 billion issued a call for the country's financial institutions to stay committed to their net zero goals and to translate them into robust action plans--essential for maintaining a competitive and stable financial system. The consequences of wavering on climate action are also becoming increasingly tangible. European Investors Reconsider U.S. Exposure Major European investors are reassessing their exposure to U.S. asset managers amid concerns about declining policy certainty and a perceived erosion of leadership in the clean economy. Dutch pension fund PME, which manages €57 billion, is reviewing a €5 billion mandate with BlackRock following its exit from a key responsible investing group. Meanwhile, Amundi, Europe's largest asset manager, noted last month that clients have 'massively repositioned' to avoid U.S. markets, driven by unease over inconsistent clean economy policy signals and other geopolitical concerns. The message from institutional investors in 2025 is clear: climate strategy is foundational to fiduciary duty. As stewards of long-term capital, asset owners are not just adapting to a changing world; they're shaping it.
Daily Mail
4 days ago
- Business
- Daily Mail
Hands off our pensions Chancellor! Don't dictate where we put our life savings, says ALEX BRUMMER
The tragedy of British pension funds is that their holdings of UK equities have dwindled to negligible levels. The allocation to UK shares has fallen from some 53 per cent in 1997 to a pathetic 4.4 per cent now. Not only have values on the London Stock Exchange been suppressed but it has also enabled overseas and private equity plunderers to spirit away some of Britain's most promising enterprises such as smart chip pioneer Arm Holdings. Chancellor Rachel Reeves correctly has diagnosed that the biggest pots of savings in Britain are not working in the national interest. She has persuaded 17 of the biggest UK private pension managers to allocate up to £50billion of defined contribution funds to the UK, with infrastructure and start-ups the priorities. In the latest move, designed to replicate the investment success of Canada's public sector union schemes and the Australian superannuation fund, she wants £1.3trillion of scattered defined benefit assets held by local authorities and others to be reorganised into several mega-funds. That could slash costs and make it easier to back UK projects. All fine and dandy – except the Treasury has now disclosed it would seek back-up powers to ensure unlocked money is directed into 'local investment priorities'. The notion of Government dictating where people's life savings are invested would be a horrendous error. It would undermine the fiduciary duty of trustees to secure the best returns and betrays the choices offered by Britain's free market economy. Far better if, instead of thinking Government knows best, Reeves looked at why pension funds are so risk-averse. Over-regulation after the Maxwell pension scandal of 1991 caused managers to favour safe assets, notably Government bonds, over equities. The switch from UK share investment to overseas assets and gilts was exacerbated by Gordon Brown's 1997 raid on the tax break on dividends paid into pension funds. Reeves' priority should be to invigorate UK equities. She could abolish stamp duty on UK share trades, which places British investors at a disadvantage. The Australian, Canadian and US pension funds all have far larger exposure to equities. In America, where equity culture is strong, 54 per cent of pension savings are held in shares. In Australia, some 24 per cent (six times the UK) is invested in local equities. Before these big battalion investors expose themselves to infrastructure and start-ups they should prioritise existing quoted entities. The first objective should be to recreate an equity culture. There is no shortage of private equity, hedge fund, family offices and national wealth funds ready to back infrastructure and start-ups. Branching out Our high street banks could learn from Nationwide. As commercial banks require people to travel ever further for branch services, or to find a working ATM, Debbie Crosbie is pledging to keep a busy branch network intact until at least 2028. The need is particularly important among small traders, the elderly, infirm and technophobes who find navigating online apps frustrating. A one-off payment to members at a cost of £615million will be some compensation to customers who, paradoxically for a mutual, had no say in the takeover of Virgin Money, which makes Nationwide the second-biggest mortgage lender. A 30 per cent rise in profits to £2.3billion, with only a minimal contribution from Virgin, suggests more to come. The jury is still out on the deal, with new write-downs possible. Systems and people integration are far from over. Nationwide's re-entry into business banking, building on Virgin Money's operation, must be a good thing. Smaller enterprises and start-ups need all the help that can be mustered. Intelligent choice The New York Times isn't waiting to see its intellectual property disappear over the horizon in the great AI scam. It has a deal with Amazon where its output will be paired with products and services such as Alexa. Better to be part of the AI revolution, rather than shout from outside the tent. It is a lesson the music industry learned when Spotify invaded.
Russia Today
4 days ago
- Business
- Russia Today
UK unveils bill to stop capital outflow
The UK has unveiled a sweeping and controversial plan to force pension funds to invest more heavily in domestic assets in the face of fiscal strain and ratcheting geopolitical pressure. Legislation to consolidate local pension schemes into 'megafunds' of at least £25 billion by 2030 is being framed by the government as a strategy to boost infrastructure, energy projects, and job creation. Since 2012, UK pension fund investments in British companies have plummeted from over 50% to just 20% in 2023, with fund managers seeking higher returns abroad. Chancellor Rachel Reeves insists the reforms will ensure 'better returns for workers' while strengthening strategic sectors like clean energy. However, industry figures have pushed back. Aviva CEO Amanda Blanc described the plan as 'using a sledgehammer to crack a nut,' warning it could clash with pension trustees' fiduciary duty to maximize returns. The initiative comes as the Labour government faces deepening political and economic challenges, including declining support, soaring public debt, and a widening rift with long-time ally the US. Labour's support has dropped by more than 12 points since the July 2024 election – the steepest post-election fall in four decades. The rise of Reform UK, led by Nigel Farage, has further disrupted the traditional political landscape dominated by two parties. The national debt now exceeds 95% of GDP, among the highest levels since the early 1960s. Economists attribute the surge to pandemic-era spending, energy price shocks, and a sustained rise in borrowing. London also recently announced plans to increase defense expenditure to 2.5% of GDP by 2027, in line with NATO targets and renewed US pressure for greater European contributions amid the Ukraine conflict. The UK has been one of the staunchest backers of Kiev, giving it billions in military and financial support. British pension funds have also historically invested heavily in the US, particularly in large-cap technology stocks such as Apple, Amazon, and Microsoft. But recent shifts, including new US tariffs under President Donald Trump and diverging approaches to Ukraine, have prompted many UK pension managers to reassess their exposure to American markets. The pension reform bill is expected to reach Parliament before the summer recess.
Bloomberg
5 days ago
- Business
- Bloomberg
UK Plans to Force Nation's Pensions to Invest in Private Markets
The UK said it plans to require the country's pension funds to invest in private markets and the domestic economy, a move widely opposed by the City of London's investment managers. The government 'will take a reserve power in the pension schemes bill to set binding asset allocation targets' for investments in private markets, the Treasury said Thursday in an emailed statement. It also will secure £27.5 billion ($37 billion) for 'local investment priorities' from defined-benefit programs for public employees.
