Tag Archives: BOE

BOE pins LDI crisis on the “obscurity” of small DB funds.

Posted on January 19, 2023 by henry tapper

Yesterday I reported on BOE +PRA batting for the pensioner against Government – batting for insured buy-out. That discussion was played out in front of parliament’s Treasury Committee on Monday and that same meeting – part of an inquiry into … Continue reading →

Posted in pensions | Tagged , , , , , , | 1 Comment

Waking up to systemic risk signalled by the LDI crisis.

Posted on October 26, 2022 by henry tapper

It’s estimated that the “leverage” or borrowing within LDI inflated the exposure of UK pensions to long dated and index linked gilts by £1tr (£500bn became £1.5 trillion through the use of shadow banking). These numbers are so huge that … Continue reading →

Posted in pensions | Tagged , , , , , | 1 Comment

In the eye of the storm

Posted on October 8, 2022 by henry tapper

Over the past few days, while the  Bank of England intervention in the Long Dated Gilts “Repo” market has been in operation, there has been an insidious increase in the long dated gilt yield. I have been quoting previously the … Continue reading →

Posted in pensions | Tagged , , , | Leave a comment

If LDI pooled funds collapse – what would follow ?

Posted on October 7, 2022 by henry tapper

To understand how pooled LDI funds work, listen and watch this excellent video which explains the rewards and the risks of LDI pooled funds. Please watch it to understand the way that LDI works within a pooled fund. Thought I’d … Continue reading →

Posted in pensions | Tagged , , , , | 5 Comments

Private markets – a jewel in the crown or fool’s gold?

Posted on September 29, 2021 by henry tapper

A key aim for DC trustees should be to consider how to ‘further improve’ long term future net risk adjusted returns and ‘member outcomes’ rather than just cutting costs. Getting more for members! @GuyOpperman @DWP @TPRgovuk @TheFCA @ThePLSA @bankofengland @henryhtapper … Continue reading →

Posted in age wage, DWP, Fiduciary Management, Guidance, guy opperman | Tagged , , , , , , , , | 2 Comments

A roadmap that would fundamentally change the way our money is invested

Posted on September 27, 2021 by henry tapper

The publication of the Productive Finance Group’s A roadmap for increasing productive finance investment paves the way for Long Term Asset Funds to be integrated in the default investment strategies of our major workplace pensions. Clearly the Government has got … Continue reading →

Posted in pensions | Tagged , , , , | 1 Comment

“Asleep at the wheel” The Millers catalogue our regulatory woes.

Posted on February 26, 2020 by henry tapper

Campaigner Gina Miller is asking for an  Independent Review of the Appointment of the Next Governor of the Bank of England and the FCA in the Face of a Catalogue of Regulatory Failures Leading to Catastrophic Consumer Detriment The True … Continue reading →

Posted in FCA, Financial Conduct Authority, pensions | Tagged , , , , , , , | 3 Comments

Pension fury from Paul Lewis

Posted on September 17, 2016 by henry tapper

It’s worth subscribing to Paul Lewis’ weekly Moneybox blog, delivered to your inbox on a Friday afternoon. This week’s mail addresses a central unfairness; those laying down the law on pensions are sorted , those they tell to “engage” –  face  “glacial”  innovation from … Continue reading →

Posted in pensions | Tagged , , , , , , , , , , , , , | 4 Comments

What do we mean by Independent Financial Education?

Posted on May 22, 2016 by henry tapper

This is an article that my firm First Actuarial have been sending to their clients. It’s so clear and simple, I thought I’d share it. Of course we’ll be sending it to Andy Haldane at the Bank of England! What … Continue reading →

Posted in Bankers, Financial Education, First Actuarial, pensions | Tagged , , , , , , , , , , | Leave a comment

Rebuilding the social capital of pensions.

Posted on May 22, 2016 by henry tapper

    I’ve been reading Andy Haldane’s recent speech and kick off with this one statement among many good insights. “A plausible objective of public policy..is not to maximise trust among consumers of financial services but to maximise trustworthiness among its … Continue reading →

Posted in pensions | Tagged , , , , , , , , , , | 1 Comment