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UK railway pension fund investing millions in music

UK railway pension fund investing millions in music

Finance
Of the many alternative investments outside stocks and bonds that pension funds can buy, a few are putting retirement money into music copyrights.RPMI Railpen, the manager of one of the largest and oldest UK pension funds, is leading a $ 345 million investment in a fund rolled out Monday by Kobalt Capital, the subsidiary of music royalties collection and technology company Kobalt."With low expected returns from many traditional asset classes, we are prepared to allocate in alternative investments that can help us to pay members' pensions well into the future," Craig Heron, deputy investment director, RPMI Railpen, told CNBC this week in an email. Through the fund, Railpen buys music copyrights and receives royalties collected by Kobalt."This is an innovative investment opportunity that off...
Taskforce: £1.5trn pension superfund needed

Taskforce: £1.5trn pension superfund needed

Business
A cluster of 'superfunds' created by pooling £1.5trn of assets in existing retirement schemes offers the best route to mitigate Britain's growing pensions crisis, a City taskforce will say this week.Sky News has learnt that a committee established by the Pensions and Lifetime Savings Association (PLSA) will follow up an earlier report by warning that the current system with thousands of smaller defined benefit (DB) schemes operating independently is "placing the retirement savings of millions...at risk".The taskforce's final report will paint a stark picture of the challenges facing businesses as they attempt to close their yawning pension deficits, citing the crises at companies such as BHS, Woolworths and Tata Steel."Many existing DB schemes were established in 'old world' industries lik
Canada Pension Funds may drive in Rs 4000 crore to India

Canada Pension Funds may drive in Rs 4000 crore to India

Finance
Canada-based pension funds PSP Investments and Ontario Teachers’ Pension Plan (OTPP) are in talks to invest Rs 4,000 crore in an investment platform co-promoted by the government of India-sponsored National Investment and Infrastructure Fund (NIIF), persons directly familiar with the matter said. The funds could invest in a special purpose vehicle (SPV) floated by NIIF to fund toll and annuitybased road projects, they said. The three parties are currently negotiating the structure of the partnership, which could entail the creation of a supervisory board in which the funds will have representation. The board will monitor investments made by the SPV. NIIF may invest a similar amount of money in the SPV to acquire a proportionate equity holding in the investment platform or may rope in ot
Here is why Indians are retiring poor with more debt and no pension

Here is why Indians are retiring poor with more debt and no pension

Finance
NEW DELHI: Indian families borrow and invest in very different ways than families in the US, UK or Germany, and even those in China. The depth of these differences, across all ages and economic levels, is revealed in a recent report on household finances prepared by the RBI. It shows that a major proportion of household wealth in Indian families is kept as real estate or gold, even among younger families, and even by the poorest 40 per cent of population. This is not the case in other countries. Institutional borrowings by Indian families are low in early life and go on increasing leaving many retired persons with a debt overhang, unlike advanced countries where mortgages reduce after retirement. And, pensions are virtually absent in India while in most Western countries they are a...