Photo: Bank of England, FlickrBack in early April, as the financial consequences of the Covid-19 pandemic became increasingly stark, I wrote about the extraordinary movements triggered in sterling money markets. I wanted to give readers an insight into market developments since then and how we have managed the Public Sector Deposit Fund (PSDF) through this uncertainty.
First and foremost, the “liquidity crunch” seems to be behind us. We had seen corporate institutions drawing down from their bank credit facilities to replace income streams which had all but dried up. In addition, these corporate clients were redeeming significant amounts from large institutional money market funds to meet this cash shortfall.
Furthermore, this was hap
...Room151: In a nutshell, what does the Social Housing REIT invest in and why?
Jim Boyd (JB): The Fundamentum Social Housing REIT Plc (FSH REIT), invests directly into the UK residential property sector by acquiring assets and, where required, adapting them to accommodate adults requiring specialist care.
Many companies will require further funding as the pandemic recedes. William Bourne argues this may be an opportunity for LGPS to have an “impact” on ailing businesses and the economy.
The government’s response to the Covid-19 crisis has been to throw money at the economy indiscriminately in the hope that enough sticks to fire it up again. That isn’t going to work at corporate level: some companies will fold, and many will need substantial financial help to survive. This question here is whether the LGPS, with getting on for £300bn of assets, could play a part in getting the country back on its feet again.
All of us involved in, and around, local government are acutely aware of the devastating impact of coronavirus. Local residents have tragically had their lives cut short, services have had to adapt at lightning speed and the financial pressures are severe. These challenges are, of course, not confined to local authorities—change the word “residents” for “employees” and that last sentence applies equally to the private sector.
A number of articles have been written in recent weeks about Spelthorne Borough Council’s investment strategy which the council considers requires correction. Since 2014, Spelthorne Borough Council, like all councils,[…]
While speculation is rife that the pandemic has pushed some local authorities close to issuing section 114 notices, new guidance from CIPFA aims to encourage more contact with central government.[…]
There has been much discussion over passive versus active investment in the Local Government Pensions Scheme. David Evans explains why LGPS Central has its own in-house team. Since the very[…]
A recent report underlined the importance of closing a PFI contract effectively. Helen Randall navigates the intricacies and pitfalls. Does your authority have a Private Finance Initiative (PFI) deal which[…]
The Covid-19 pandemic has presented local government with an unprecedented challenge. Nathan Elvery argues the crisis makes the role of chief financial officer more important than ever. These are unprecedented[…]
Without doubt the two aspects of managing the Local Government Pension Scheme which get the most attention are administration and investment. Scheme members see the impact of good, or otherwise,[…]
