XPS Pensions Group has been admitted to the FTSE 250.

The June 2024 annual review of the FTSE UK index confirmed that XPS Pensions Group would be added to the FTSE 250 Index, alongside five other firms. These changes are set to be implemented at the close of business on 21 June 2024, before taking effect from the start of trading on 24 June 2024. Reflecting on the news, XPS said that it had continued to perform “strongly” over the past few months, with its April trading update revealing a 20 per cent increase in revenues from continuing operations. The FTSE UK quarterly reviews aim to ensure that the indexes continue to portray an accurate reflection of the market they represent and form an essential component to the management of the indexes.

Aegon Master Trust has launched a new trustee service, Trustee Connect

The service, open to all Aegon Master Trust clients, will ensure that each scheme is assigned a dedicated and experienced trustee to provide individual, tailored support and guidance. Matching experience and skills to each scheme and its priorities, the nominated trustee will help navigate the governance, including attending Governance Committee meetings either in person or virtually, and share directly the latest best practice, plans and developments for the Aegon Master Trust. The service is also designed to enable employers to join the Aegon Trustee Board meetings to allow the trustees to gather and act upon employers' feedback.

Phoenix Group has launched a bespoke ‘Climate Aware’ index series in collaboration with FTSE Russell.

The index series is designed to enable Phoenix to introduce benchmarks that aim to increase the resilience of customers’ portfolios to climate change related transition risks. In addition to this, the construction follows core principles set by Phoenix, including the pace of the decarbonisation trajectory and the inclusion of forward-looking data, ensuring that climate risk management and that engaging for change are at its core. Phoenix’s exclusion policy is also embedded within the design removing companies engaged in products and business practices that are not aligned to Phoenix’s principles. The launch forms part of Phoenix Group’s decarbonisation strategy for equity investments, in line with its Net-Zero Transition Plan published last year. In line with this plan, Phoenix is expected to undertake a phased introduction of these benchmarks across multiple regions for customer portfolios, starting with US equities.

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