THE NETHERLANDS - Robeco's Rolinco fund has switched to a growth-oriented benchmark, the Salomon Smith Barney GrowthPMI Total Return Index.
The fund will have a permitted ex-ante tracking error of five.
Rolinco's investment policy has always been growth-oriented, but this was never directly reflected in its benchmark.
Robeco also highlighted the increasing importance of style investing since certain investment styles have performed better than others in particular periods as well as acting as a risk diversifier.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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