UK - State Street Global Advisors (SSgA) has won a £70m passive UK bond mandate from Volkswagen Group Pension Scheme.
The multi-asset strategy mandate seeks to add value to a fixed-weight benchmark composed of the FTSE All-Share Index and a selection of FTA UK fixed income indices.
Kanesh Lakhani (pictured), head of European marketing and consultant relations at SSgA said: “SSgA has extensive experience in providing a diversified selection of strategies across the investment spectrum. We look forward to helping Volkswagen achieve its aim of consistent added value in a risk controlled framework.”
Volkswagen said no fund official was available for comment.
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.