Tag Archives: jo cumbo
Do speculative opinions of future value have a place in VFM statements?
Jo Cumbo’s post deserves a proper answer Looking for comments on the Government’s proposals to allow #pension providers to use estimates of future investment performance, in their new value-for-money assessment. To be clear, this is about the provider estimating returns … Continue reading
2023 is not an hour old before pensions hit the headlines
The first thing I read in 2023 was the lead story by Josephine Cmubo in the new year’s day edition of the Financial Times. Her article reignites the fires flaming before the Christmas break over the purpose of pension scheme … Continue reading
Posted in pensions
Tagged Edi Truell, jo cumbo, LDI, Long Term Assets, pension funds
Leave a comment
2022 – the FT’s pension journalism – “unbroken”!
Now the year is over, night is drawing nigh, yet more consultations, drift across the sky! One of the brightest thing to happen in a dark year, has been the development of outstanding pension journalism within the FT. I don’t … Continue reading
WPC hears from providers and consultants on LDI
There have been big losers from the LDI crisis. It has been going on all year but intensified following the Bank of England’s switch from easing to tapering and intensified again after the announcement the next day of the ill-fated … Continue reading
The Funded Pension System – as an engine of economic growth – has hit the buffers.
In a major article , labelled an FT “big read, Jo Cumbo and Jonathan Ely , examine the LDI crisis and try to establish how pension schemes will change the way they invest. In its central session it contains … Continue reading
Posted in pensions
Tagged ft, growth, jo cumbo, Lauira Trott], pension minister, Pensions
3 Comments
Waking up to systemic risk signalled by the LDI crisis.
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
What is “useful content” on LDI and who should publish it?
John Belgrove , who has long been a friend to this blog , has published on Linked-in a Venn diagram. This is not an ad hominem attack on John, he is being helpful in articulating a commonly held view (judging … Continue reading
“Basis points to exhaustion” – the trustee’s new “fear measure”.
Yesterday , a new phrase entered into my lexicon of pensions jargon “Basis points to exhaustion” It is being used by consultants to explain to trustees how much higher the gilt rate can go before they need to find more … Continue reading
August 1st – CDC day!
The 1st August is the day applications open for a new type of UK pension – what pension people know as CDC (though in regulation it is collective money purchase). It’s been a long time in the making, but today … Continue reading
Posted in pensions
Tagged Adrian Boulding, AgeWage, CDC, DWP, Guy Opperman, jo cumbo, RSA, TPR
Leave a comment
Watch your carbon footprint – Aussie!
The UK’s Financial Conduct Authority last month said it saw a “clear rationale” for regulatory oversight of certain ESG data and rating providers. “We stress that market participants and consumers must be able to trust green and other ESG-labelled … Continue reading