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Top related persons:
Dado Ruvic - 1 BoE - 1 gilts - 1 Chris Jeffery - 1 Lane Clark - 1 Peacock - 1 Barry Kenneth - 1 Van Lanschot - 1
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REUTERS - 1 Bank of England - 1 Legal - 1 General Investment Management - 1 Fund - 1 Investment - 1 Royal London Asset Management - 1 Investors - 1

Search resuls for: "Lane Clark"


3 mentions found


☆ A year after budget crisis, UK debt faces fresh pensions headwind
  + stars: | 2023-09-22 | by ( Yoruk Bahceli Carolyn Cohn | Yoruk Bahceli | Carolyn Cohn | ) www.reuters.com   time to read: +6 min
Benefiting from the highest interest rates since 2008, pension funds are better funded to meet future payouts than they have been in years. Because insurers hold a lot less government debt than pension funds, favouring higher-return assets such as corporate debt, they are expected to sell some of the gilts they receive. It is selling 240 billion pounds of debt this year, a record, save for 2020-21. Helped by the pension fund demand of past years, Britain's average debt life is around 15 years, more than double the U.S. and Germany's. Britain has already started skewing its funding towards shorter debt this year, citing high borrowing needs, a move investors reckon also reflects declining pension fund appetite.
Persons: Dado Ruvic, BoE, gilts, Chris Jeffery, Lane Clark, Peacock, Barry Kenneth, Van Lanschot, Arif Saad, Craig, Owen Davies, LGIM's Jeffery, Yoruk, Carolyn Cohn, Dhara Ranasinghe, Toby Chopra Organizations: REUTERS, Bank of England, Legal, General Investment Management, Fund, Investment, Royal London Asset Management, Investors, Yoruk Bahceli, Thomson Locations: gilts, Germany's, Britain, Amsterdam, London
☆ British pension funds press BoE to extend bond buys amid cash scramble
  + stars: | 2022-10-12 | by ( Tommy Wilkes Carolyn Cohn | Tommy Wilkes | Carolyn Cohn | ) www.reuters.com   time to read: +7 min
While estimates of how much pension funds need to sell vary they are in the hundreds of billions of pounds, and it is not known how much funds have already raised in cash. Tuesday's BoE intervention was targeted at buying index-linked bonds, a far smaller market than gilts, dominated by pension funds and which suffered another significant selloff this week. He estimates pension funds could sell assets totalling around 300 billion pounds as they adjust hedging positions, although it is not clear how much they may have sold already. He estimated 100 billion pounds could come from gilts and the rest from assets such as global credit, global equities and asset-backed securities. "The bottom line is a lot of schemes need to rebalance their portfolios," he said.
☆ British pensions step up multi-billion-pound asset fire sale as need for cash soars
  + stars: | 2022-10-11 | by ( Tommy Wilkes Carolyn Cohn | Tommy Wilkes | Carolyn Cohn | ) www.reuters.com   time to read: +5 min
Compounding the pain, providers of so-called liability-driven investment strategies (LDI) are demanding more cash to support new and older hedging positions. The cash buffers now required are about three times bigger than previously requested, according to four consultants advising pension schemes, as market players seek bigger cushions against more volatile moves in bonds. Estimates of how much pension funds need to sell range but are in the hundreds of billions of pounds, although it is not known how much in assets schemes have sold already. "We are definitely not there," he said, referring to whether funds were close to raising the required cash by selling assets. He estimated 100 billion pounds could come from gilts and the rest from assets such as global credit, global equities and asset-backed securities.
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