|
The opdu Report - Issue 20, June 2006 Bulletin Board Alastair Ross Goobey, President of The Pensions Archive Trust, launched an appeal for funds to establish and run The Pensions Archive in the library of City University when giving the inaugural Ross Goobey Lecture on Thursday 27 October at the Cass Business School. During the lecture he referred to the investment strategy his late father George Ross Goobey had implemented, with the approval of the trustees of the Imperial Tobacco Pension, in the 1950s which involved the sale of gilts and the switching of the proceeds into equities. This was the start of a trend for final salary pension schemes to hold a significant proportion of their investments in equities. Fifty years later many pension funds are moving back into gilts to more closely match their liabilities. The full text of Alastair Ross Goobey’s lecture can be found on the Pensions Archive website. A collection of George Ross Goobey’s papers covering the time of these significant developments in pension fund investment strategy has been donated to The Pensions Archive by Mrs Ross Goobey. Mike Young, President of PRAG and a director of The Pensions Archive Trust together with Yally Avrahampour of Merrill Lynch and a member The Pension Archive Advisory Committee have been analysing them and also working with the NAPF in researching their archives to establish the impact that these new investment ideas had on pension schemes generally at the time. At the end of January Merrill Lynch hosted a lecture by Michael Pomery, President of The Institute of Actuaries in the King Edward Hall at their Financial Centre to give publicity to the Pensions Archive appeal. In a wide ranging lecture he spoke of the possibility that the switch from DB schemes to DC could well be a cyclical event over a very long cycle rather than an irreversible shift. The full text of the lecture is on the Pensions Archive website. The evening was chaired by Lord Turner of Ecchinswell, Vice Chairman, Merrill Lynch Europe and Chairman, The Pensions Commission. The next event hosted by Merrill Lynch in conjunction with The Pensions Archive Trust will take place on Tuesday 20 June at 5.30pm in the King Edward Hall when the lecture will be The Quest for Outperformance. Please contact Alan Herbert by phone or e-mail if you are interested in attending and being placed on The Pensions Archive mailing list. Alan Herbert
The directors of The Pensions Archive Trust are most grateful to the following companies and organisations which have committed to give financial support to the Appeal: Abacus Lighting Ltd Aon Consulting Limited Barnett Waddingham LLP BP Pension Trustees Limited Dunnett Shaw Ltd GlaxoSmithKline plc HSBC Actuaries and Consultants Limited Imperial Tobacco Group PLC Morgan Stanley Investment Management Pensions Research Accountants Group Societe Generale Asset Management The Law Debenture Trust Corporation p.l.c The National Association of Pension Funds The Occupational Pensions Defence Union Limited UBS Global Asset Management Further information on the Pensions Archive can be obtained from
|
|||||
|
