Source: Sharecast
The bosses of 17 of the UK’s biggest pension funds have struck a deal with the government that it claims will release up to £50bn worth of investments, with at least half earmarked for British assets including clean energy projects and homegrown startups. Fund managers including Aviva, Legal & General, M&G, Phoenix and the Universities Superannuation Scheme have agreed to sign a new “Mansion House accord” that will lead to at least 10% of their workplace pension schemes being invested in private market assets by 2030. – Guardian
Lloyds Bank has snubbed Rachel Reeves’s push to get pension funds to invest more in the UK, dealing a blow to the Chancellor’s bid to boost growth. The lender’s pension arm Scottish Widows has refused to sign up to a pact that will see Britain’s largest retirement funds invest £50bn in infrastructure, property and private equity by the end of the decade – half of which will be in the UK. – Telegraph
After a stellar career helping to oversee companies on behalf of the government, or sitting on high-profile boards, Sir Adrian Montague finds himself in front of MPs on Tuesday to explain how he is going to pull off his biggest coup yet. The 77-year-old chairman of Thames Water has been called before the environment select committee of the Commons. – The Times
President Trump’s tariffs will put downward pressure on UK inflation, the Bank of England rate-setter Megan Greene has said, explaining her decision to vote for a quarter-point interest rate cut last week. Speaking at the Bank of England Watchers’ Conference, Greene, an external member of the central bank’s monetary policy committee (MPC), said that “on net” a global trade war caused by Trump’s import levies would be disinflationary for the UK but added that this was “pretty uncertain” as there were both “inflationary and disinflationary forces” at play. – The Times