News

While today’s ONS statistics for April show a reassuring fall in the number of companies being declared insolvent, down 15% compared to this time last year and down just over 30% from March this year, we must nonetheless remain cautious as one month does not make a trend.

Today, the Bank of England Monetary Policy Committee (MPC) raised bank rate by 0.25% to 4.50%. This is the twelfth consecutive rate increase delivered by the Bank over the past 18 months.

Cardano announces the rebranding of ACTIAM to Cardano. The name change will be effective from 1st June 2023.

The Bank of Japan held a monetary policy meeting – the first led by the new Governor, Kazuo Ueda. Here we highlight a few key points from the meeting and why it should be of interest to UK pension schemes.

We have provided a response to the new Funding Code from The Pension Regulator. Our response focuses on covenant and investment matters, and provides insight into the positive steps taken by the regulator, potential unintended consequences, and the importance of smarter covenant advice.

Shweta Singh, Chief Economist, provides a summary of the latest Bank of England interest decision where they have raised rates by 25bps to 4.25%.

Alex Hutton-Mills, Managing Director – Cardano Advisory, comments on the Spring Budget and the considerations for businesses supporting pension schemes and pension scheme Trustees.

You are no doubt aware of the recent rapid collapse of Silicon Valley Bank (SVB) in the US and the emergency purchase of its UK subsidiary by HSBC.

The Bank of Japan is making decisions that are going to affect UK real yields. UK pension schemes are going to be impacted.

After an extensive search, Allianz has chosen Cardano, as its asset manager for the defined contribution schemes of Allianz Pensioen and Allianz PPI Pensioen in the Netherlands. In total, Cardano will manage more than €2 billion of assets for Allianz.

Cardano advised Amey, a leading British infrastructure services and engineering company, through its recent sale by Ferrovial to consortium purchasers One Equity Partners and Buckthorn Partners. The transaction represented an enterprise value of £400 million.