INCLUDING: UK - Fidelity fund launch; US - Index additions; UK - Hymans Robertson appointment
UK - Fidelity fund launch
Fidelity International has launched the Institutional Core Plus Bond Fund which employs a multi-strategy approach combining lowly-correlated positions.
The fund has a targeted return of 1.5% above the ML EMU Large Cap index before fees, and will make use of derivative instruments to control risk and reduce volatility.
US - Index additions
Heath care real estate investment trusts (REITs) will be added to the Dow Jones Wilshire Global Real Estate and Global Real Estate Securities Indices in September.
Dow Jones and Wilshire made the announcement, adding these additions would apply to the US versions of the indices as well.
UK – Hymans Robertson appointment
Hymans Robertson has appointed Mark Belchamber as senior consultant in the public sector team.
Belchamber had been head of pensions at the British Medical Association (BMA) and has 15 years of occupational pensions experience.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.