Lords Industry and Regulators Committee hears from Legal and General on the use of liability-driven investment by pension funds
Friday 18 November 2022
The House of Lords Industry and Regulators Committee will hear from the Chair and Chief Executive of Legal and General on the use of liability-driven investment (LDI) by pension funds on Tuesday 22 November.
The session will run from 10.30am until 12.30pm and can be followed live on Parliament TV or in person in Committee Room 3, Palace of Westminster.
Giving evidence will be:
- Sir Nigel Wilson, CEO, Legal and General
- Sir John Kingman, Chair, Legal and General
Possible questions include:
- What role has Legal & General played in the increasing prominence of liability-driven investment strategies by UK defined benefit pension funds?
- What was your experience of the market turbulence that followed the mini-Budget in September? What impact did this have on your operation of LDI funds and your interaction with clients of those funds?
- What changes will you make to your promotion and operation of LDI funds, particularly those that involve significant leverage?
- To what extent do LDI funds domiciled overseas escape regulatory oversight? What oversight do L&G’s LDI funds receive from overseas regulators, and is this as proactive as UK regulatory supervision?
- What role do investment consultants play in DB schemes’ investment strategies, and how do your fund managers work with them in relation to LDI? Should investment consultants be brought within the regulatory perimeter, and if so, which regulator should oversee their work?
- Do you feel that the Government provides a clear steer as to what it is seeking from investments by pension schemes?
