It comes as RPMI, the UK’s sixth largest pension scheme with £20 billion assets under management, moves investments increasingly towards an in-house model for its largest client, the Railways Pension.
The fund – the Actiam Institutional Microfinance Fund III – has been launched for six institutional investors, including the €13bn railways scheme SPF and the €3bn pension fund for public transport, SPOV.
The Supervisory Board of Daimler AG today decided on an extraordinary contribution to the pension fund of €2.5 billion, split proportionately between the Daimler AG, EvoBus and the Daimler Financial Services companies.
Responding to today’s publication by the FCA of its annuities sales review and retirement income market study, the Financial Services Consumer Panel has called on the FCA to take action to address the persistent problems in the annuities market.
The NOP, a portfolio aimed at real assets and real estate mandates, accounted for 0.2% of the fund’s assets at the end of March this year, around £27m.