Funds Hub
Money managers under the microscope
Morning Line-Up: pension poverty, BNY currency trade, hedge funds, Kazakhstan sukuk
News and views on the asset management industry from Reuters and elsewhere:
BNY currency trading dispute with LA pension fund – WSJ
If the Hutton report hath offended
The heat is on! Lord Hutton, the author of the report tackling reforms of the UK public pension system has been grilled by the representatives of the whole British media; TV, radio, Reuters, and no doubt he is making a case with newspapers and magazines too. The question on everybody lips is: what’s the damage? What’s the bill?
The scale of the comment to the report has been sensational, my mail-box has been hit with comments from the CBI (the bosses association), the ABI (the insurers association), the NAPF (the pension fund association), Labour, a countless number of pension consultancies, not to mention the trade unions, some of which are on the war path.
Morning Line-Up: Hedge funds demand risk, gender-neutral pensions, Fidelity eyes China
News and views on the asset management industry from Reuters and elsewhere
Hedge funds show more appetite for risk – Financial News
Morning Line-Up: Gartmore, Lehman/Nortel case, dairy bid, Ireland
News and views on the asset management industry from Reuters and elsewhere:
Gartmore mystery stake-builder- FT
Lehman/Nortel pension UK court case – Reuters
Morning Line-Up: PwC DB plans, Pru’s chairman, Chinese insurers
News and views on the asset management industry from Reuters and elsewhere:
PwC shuts UK defined benefit pension schemes - FT
Chinese insurers allowed to invest in private equity, property - Reuters
Renewed attack on Pru’s chairman - Daily Telegraph
Where there’s muck…
Pensions schemes are in trouble, but those attempting to get them out the mire are seeing some money-spinning opportunities.
Corporate retirement funds that have promised to pay workers based on their final salaries have long been heading for difficulties as we humble drones have the temerity to live longer than anyone thought possible. Combine that with roller-coaster markets and unpredictable inflation and interest rate prospects and trustees start hunting around for a golden bullet.
Morning Line-Up: BBC pension move, Skype’s IPO plans, Energy investment frenzy
News and views on the asset management industry from Reuters and elsewhere:
BBC cuts senior management pension top up- FT
Morning line-up: Chile, nightmares and the back of the garage
News and views on the fund industry from Reuters and elsewhere:
Chilean fund regulation shake-up – Reuters
Lawyers become money managers – WSJ
Rooting round the back of the garage to plug pensions – Reuters
Neuberger reunited – Bloomberg
The hedge fund nightmare – Telegraph
Vanguard plans UK target retirement date funds
US passive giant Vanguard is planning to bring its target retirement date products to the UK market to target the growing defined contribution (DC) pensions business.
Taking to Reuters at the Fund Forum, Tom Rampulla, managing director of Vanguard UK, said that the firm was currently trying to structure these long term savings products for the UK market, and looking to add key funds to support the offerings.
The Nick Clegg of the pension world…
Emerging resplendent from the shadows of more illustrious peers after long years spent relevant only to a modest group of those in the know; attributes not only pertinent to the ascendant LibDem leader but also to Defined Contribution pensions, known as DC.
It’s no wonder their popularity is growing: DC funds are cheaper for sponsors — albeit riskier for employees , who have done a great job of pretending these schemes which pay out based on investment returns will provide them with the kind of plush retirement the old guard of final salary schemes seemed to promise.
