UK - Schroder Investment Management has blamed plummeting equity markets for a steep fall in its funds under management.
Its funds – 75% of which are invested in equities – fell 15% to £87.2bn in the past quarter.
Despite the falls in funds under management, Schroder said it had stemmed the exodus of clients and there were no net outflows during the third quarter or October.
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.