Pension Fund Asset Allocation - new thinking


Daily Mail Monday Column – let’s use pension savings to fund housebuilding
24 November 2014
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Ros wrote an article published in the Daily Mail Business Section Monday Column calling for new housebuilding funded by pension assets to help create jobs, boost the economy and offer attractive risk/reward alternative for pension funds


Bank of England pays 50% of salary in staff pensions
3 November 2014
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Ros comments on the Bank of England�s Pension Fund annual report, showing a contribution rate of over 50%, an asset allocation entirely in bonds and workers who do not have to pay a penny into their scheme even under auto-enrolment.


The Changing World of Pensions
9 September 2014
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Ros gave the keynote address at the London Pensions Fund Authority annual members' forum explaining changes that are underway for UK pensions.


FTfm - Scare stories about USS liabilities are overblown
10 November 2013
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Financial Times FTfm supplement published an opinion piece from Ros in which she explains why the USS pension scheme critics are too negative


QE has created dangerous asset bubbles
28 May 2013
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Press Release highlighting the dangers of QE having created asset bubbles and calling for money to be directed to real assets, not financial assets in order to revive growth.


Unintended consequences of unconventional monetary policy
17 April 2013
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Ros spoke at the London School of Economics, giving her views on the dangers of Monetary Policy measures for UK pensions.


Has QE undermined pensions as we know them
29 January 2013
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Ros gave a presentation to the Pension Investment Academy at Westminster Business School explaining how QE has undermined both DB and DC pensions in the UK.


Fiduciary Management for pension funds
25 April 2012
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Ros gave a presentation to pension fund trustees explaining the background and possible benefits of considering Fiduciary Management for pension funds.


FT Letter: Power of Pension Investments Can Stimulate the economy
22 February 2012
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Letter published in the Financial Times where Ros explains how using pension fund assets to stimulate economic activity is far better than cutting pensioner benefits or raising taxes.


Fiduciary Management - A new way forward for Europe's Pension Funds?
25 January 2012
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Ros gave a presentation at the IQPC Fiduciary Management Summit, outlining the potential use and benefits of Fiduciary Management for pension funds.


Yorkshire Post: How we can use our pension funds to build a better future
18 January 2012
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Ros wrote an Op-ed piece for the Yorkshire Post explaining the benefits of using pension fund assets to invest in infrastructure projects to help boost growth and improve pension funding.


Using our pension funds to build a better future
18 January 2012
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Ros wrote an article in the Yorkshire Post highlighting the advantages of using pension fund assets to invest in infrastructure projects - a potential 'win win' for funds and the economy.


Investing in infrastructure - a natural fit for pension funds
15 January 2012
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Ros explains why we need pension assets to invest in infrastructure to help boost their returns and the economy. Government should even consider underwriting some inflation linked returns for such projects.


Autumn Statement has nothing for savers
29 November 2011
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Ros comments on the Autumn Statement which contained no help for savers, but some sensible suggestions on using pension funds to invest in infrastructure.


Pensions in Crisis
29 June 2011
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Ros gave a keynote speech at the Institutional Investor Pensions Conference in Luton Hoo, explaining what has gone wrong with our pensions and reforms that are needing to address the crisis.


Trustees, Governance and Investment Manager Selection post-crisis
24 February 2009
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Presentation given to Institutional Investor conference in Amsterdam outlining Ros' thoughts on past mistakes and future trends in pension fund investment and trustee investment governance.


Credit Crisis and Pension Funds - what now for LDI?
25 November 2008
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Presentation given to Goldman Sachs Pension Academy explaining how pension fund trustees could consider coping with the credit crisis and updating investment thinking for the future.


Re-evaluating Investment Risk
6 November 2008
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Presentation given to Institute of Chartered Accountants in England and Wales (ICAEW) in London outlining how pension funds need to think differently about investment risk and recognize that taking risk, especially in equities, does not necessarily mean returns will be high.


FTfm 'Feedback' column, why BT trustees should not just switch from equities to long bonds
3 March 2008
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Article published in FTfm explaining why suggestions that BT's pension fund accounting problems and long-term asset-liability mismatch will not be solved by switching from equities to bonds.  More radical and broader thinking is required.


Article for Public Service Review on Liability Driven investing (LDI)
October 2007
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Article published in Public Service Review explaining that LDI is all about understanding and managing risk, not just about switching from equities to bonds.


Delivering Members' Pensions
27th March 2007
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Presentation given at Coombe Abbey, Coventry for PwC explaining Ros' thoughts on the new world for trustees and dealing with deficits, risk and member protection.


Alternative Investment Strategies for Pension Funds
7th March 2007
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Presentation for Icelandic pension fund trustees outlining Ros' thoughts on using alternative investments in pension asset allocation decisions.


Press release welcoming PPF levy announcement
December 2006
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Press Release giving Ros’ reaction to the PPF levy announcement which seems prudent and responsible.


Understanding and managing pension fund risk
December 2006
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Letter published in Global Pensions magazine explaining why pension fund trustees should not necessarily be switching to bonds and that searching for asymmetric returns and using alternative assets and derivatives can improve portfolio efficiency.


Modernising Pensions
9th November 2006
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Speech given at the Wallace Collection in London outlining for trustees some new thinking on risk management, liability driven investing and downside protection for pension funds.


Press Release on Pension Protection Fund investment principles
October 2006
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Press Release giving Ros’ view on the Statement of Investment Principles announced by the Pension Protection Fund Board


Alternative investing – new thinking on Asset Allocation
26 September 2006
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Presentation given at Nordic  Alternative Investment conference in Stockholm outlining new thinking for institutions considering moving away from traditional asset allocation models.


New approaches to asset allocation
25 September 2006
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Presentation given at UK Pension and Investment Summit in Brighton, explaining Ros’s opinions on pension funds considering new approaches to asset allocation, emphasising risk control, diversification and protection.


New investment thinking for trustees
September 2006
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Article published in ‘Trustee newsletter’ Volume 2, Issue 3, explaining that pension fund trustees need to focus on risk as well as returns in their investment portfolios.


Trustee Challenges – Facing up to deficits
10 July 2006
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Presentation given to European Pension Fund Investment Forum in Marlow, explaining Ros’ ideas on new ways for trustees to think about managing both the risk and the return of their assets, in order to address pension deficits and more directly target meeting liabilities and over time.


Concerns about USS pension fund
2 June 2006
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Letter published in Financial Times following John Plender’s article about the decision by Universities Superannuation Scheme to leave employer contributions unchanged, despite large deficit and suggesting that asset allocation can help overcome deficits.


FT Trustee summer school – Trustee investment duties
June 2006
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Article published in  FTfm for their Trustee Summer School examining the demands for Trustee Knowledge and Understanding (TKU) of investment issues and using modern techniques to replace the traditional hopeful ‘punt’ on equities and bonds.


FTfm article on swaps and liability matching
February 2006
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Article published in FTfm comment section explaining why pension funds may be able to better match their liabilities by using swaps and derivatives, rather than just switching to bonds.


FT letter discussing why switching to bonds is likely to prove unwise for pension funds with large deficits
18 January 2006
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Letter published by Financial Times explaining why switching to bonds will be unlikely to cure pension fund problems and could make them worse, whereas considering swaps may be a better alternative.


Explanation of possible new structured products to help pension funds overcome deficits
January 2006
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Powerpoint description of a possible structured product approach to overcoming pension fund deficits and meeting liabilities over time.


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