Contents


16


Interview: Doug Heron Lothian Pension Fund’s chief executive talks about the benefits of collaboration and life after the pandemic.


28


ESG in EM


The fundamentals driving emerging market stocks are attractive in an uncertain world, but does unmanaged ESG risk come with the territory?


6 News 42


Superfunds New entrants are looking to muscle in on the pensions de-risking market. Should members be worried?


10 Noticeboard 12 The Big Picture 14 Industry view 26 ESG: Industry view 27 ESG: News 46 The final countdown


Issue 95 | August 2020 | portfolio institutional | 5


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