28 July 2025
5 min
Regulatory news dominated in the second quarter, as the government unveiled details of its Pensions Scheme Bill and published its final report in response to the ‘Fit for the Future’ consultation.
There was a lot to unpack for both defined benefit and defined contribution schemes. For the former, there’s guidance on what constitutes local investment, ways to extract a scheme’s surplus and the changing role of LGPS pools. And for DC schemes, big-ticket items include a drive for scale in the market, value for money requirements, consolidation of small pots and default retirement solutions.
In markets, equities notched up a strong quarter, with the growth stocks notably outperforming value. The UK 10-year yield ended the quarter slightly lower, although in early July, yields spiked due to fiscal concerns. Against this backdrop, we’ve collated topical, forward-looking articles to help guide you through the second half of the year. Here’s what’s in store:
Robert Kotlar, Senior Investment Research Analyst, delves into the future of private debt markets.
Sanjay Joshi, Responsible Investment Consultant, explores what fiduciary duty means in a climate where asset managers are reassessing their ESG commitments.
Matt Firth, Investment Research Associate Consultant, discusses alternatives for those concerned about concentration risk.
Chris O'Bryen, Investment Associate Consultant, explores how asset owners can use engagement to align investor expectations and manager activity, and introduces our latest RI-focused service, Hymans Engage.
Last but not least, we sit down with Nell McRae, a Partner in our DB investment consultancy, for our quarterly fireside chat.
Read the full publication below:
We're always keen to hear how we can help you achieve the best investment outcomes for your pension scheme members. If you have any questions or want to discuss anything covered in these articles, please get in touch.
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