Pension Insurance Corporation (PIC) has invested £114m (€143m) into university student accommodation in Central London.PIC, which specialises in insuring the liabilities for defined benefit (DB) pension schemes, is the sole finance provider to help the University of London redevelop part of its student housing.The facility, once complete, will provide 1,200 student rooms for the university that will be run and managed by the University Partnerships Programme (UPP).The allocation to housing falls under PIC’s infrastructure portfolio, which includes other social housing investments. PIC has insured close to £2bn of liabilities in 2014, requiring it to further develop its investment portfolio to match its longer-dated liabilities.Investment manager at PIC, Delphone Deasy, said: “In the right investment structure, student accommodation is a good investment for PIC, providing long-dated, secure cash flows to help us match our pension liabilities.“With £3.7bn of pension scheme liabilities insured by us last year and almost £2bn so far this year, we have a growing portfolio and appetite to invest in further opportunities of this nature.”In other news, the Pension Protection Fund’s monthly update on the state of UK DB schemes has revealed the funding level has risen over the month of June.Calculated on an s179 basis, which estimates a pension scheme’s ability to pay out PPF-level benefits, the current deficit of 6,150 schemes is £109bn, down from £118.2bn – although still £4bn higher than 12 months previous.The aggregate amount of assets over the month of June fell by £3.5bn to £1.17trn, most likely driven by a 1.5% fall in the FTSE All Share.However, liability levels fell by £12.7bn to £1.28trn after the yield on 15-year Gilts rose 8 basis points.Liabilities over the 12 months have still risen significantly.There are now 4,308 schemes in deficit and 1,842 schemes in surplus.
Related Articles Share ESI Digital – No Drama Please… Esports growth should be treated as business as usual August 20, 2020 StumbleUpon Submit Share Real Betis selects Betway as its official shirt sponsor August 10, 2020 Betway and Dafabet grow La Liga sponsorship portfolios August 14, 2020 Two unbeaten fighters with mightily impressive knockout records take centre stage in Cardiff’s Principality Stadium this weekend, with the world watching with bated breath as one record crumbles to dust.Britain’s Anthony Joshua, with 20 wins from 20 fights and a perfect 100% KO record, faces off against Joseph Parker, with the New Zealander unbeaten in his 24 fights, 18 of which, or 75%, have been ended early.The unification bout, which see’s Joshua and his WBA and IBF world heavyweight titles go up against WBO holder Parker, has been dubbed a ‘history maker’ in the build up, with the Briton set to experience a stadium bout for the fourth time in his burgeoning career (two each at the Principality and Wembley).However, how is the fight benefiting from the longer Easter weekend build up? And crucially, who are punters backing and could we potentially see Joshua lose his crown?Alan Alger, Public Relations Manager at Betway, has been discussing the upcoming bout: “AJ is a heavy favourite for the fight and punters can’t see past the man from Watford. Although not necessarily taking that price, we’ve seen plenty of interest in a Joshua knockout and a knockout or stoppage in some of the earlier rounds.“There’s a lot of expectation around this fight, and there’s naturally more interest than normal due to it being an Easter bank holiday. Factor in that it’s Anthony Joshua fighting, and the whole package makes this a huge betting event.“With events like this between now and the summer, it’s important that we carry this momentum into the World Cup, which obviously is huge for the industry as a whole.”With the worldwide interest now catapulted in the direction of Joshua, is he the biggest player in the sport? And could boxing betting records fall by the wayside if he continues to march down this path?Alger added: “He’s currently the sport’s biggest player, there’s no doubting that. People love his background story given his rise through the ranks as an amateur and choosing to fight at the Olympics. He’s a likeable character, and he still has huge potential to do bigger things in boxing.“We expect him to break boxing betting records, especially given that his next fight could be against Deontay Wilder, where the levels of interest would be very high.”