This week: NAFCU advocacy underway as Congress returns

first_img continue reading » The House and Senate return to session this week following the midterm elections and have a number of items to address during the lame duck session. NAFCU’s award-winning advocacy team will be on Capitol Hill engaging with lawmakers and working to advance credit union priorities before the end of the year.NAFCU is pushing for relief under the Bank Secrecy Act, data security and NCUA’s risk-based capital (RBC) rule before the year’s end. NAFCU will also be engaged as the Senate is expected to take up a number of pending nominations, which could include Kathy Kraninger to lead the Bureau of Consumer Financial Protection; Rodney Hood’s nomination to serve on the NCUA Board has yet to be taken up by the Senate Banking Committee.Congress must also finish work on government spending, including the financial services and general government (FSGG) appropriations measure, and reauthorize the National Flood Insurance Program before it expires Nov. 30. NAFCU has heavily advocated for full funding for the NCUA’s Community Development Revolving Loan Fund (CDRLF) and Treasury’s Community Development Financial Institutions (CDFI) Fund, which is included in the Senate-passed version of the bill. Both Senate- and House-passed bills include full funding for the Small Business Administration’s (SBA) 7(a) and 504 loan programs, which are used by credit unions. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Boots Pension Scheme backs Legal & General multi-factor fund

first_img“Factor-based investing is growing in popularity as it can be used to meet different investment objectives in a cost-efficient manner,” he said.The fund was developed in partnership with Scientific Beta, the provider of factor-based indices established by EDHEC-Risk Institute. The fund uses Scientific Beta’s recently launched High Factor Exposure indices as “building blocks” for the portfolio.LGIM said it customised these building blocks to target a balanced factor exposure while enhancing diversification and reducing risk by controlling region and currency exposures.The fund is run by multi-asset fund manager Andrzej Pioch alongside LGIM’s broader asset allocation team, which is responsible for more than £37bn.LGIM manages £35bn in factor-based strategies and alternatively weighted indices. Last November, the fund manager launched the L&G Future World Fund in collaboration with the HSBC Bank UK Pension Scheme.The multi-factor global equities index fund that incorporates a climate “tilt” to address the investment risks associated with climate change.The fund was picked as HSBC Bank UK Pension Scheme’s equity default option within its defined contribution scheme. Legal & General Investment Management (LGIM) has launched a multi-factor global equity fund with initial investment from the £7.2bn (€8.1bn) Boots Pension Scheme.The LGIM Diversified Multi-Factor Equity Fund invests in a diversified portfolio of global equities based on smart beta factors, and is a pooled vehicle aimed primarily at UK institutional clients.The group said the fund aimed to reduce risk relative to the global equity market by diversifying more effectively across regions and reducing stock-specific concentration.Adam Willis, head of index and multi-asset distribution at LGIM, said investors were increasingly looking for alternatives to traditional market-cap and multi-asset products.last_img read more