INCLUDING: INDIA - Ripe for global pension funds, CANADA - BCE debt rating ‘junk',GERMANY - Commerzbank confirms sell-off
INDIA – Ripe for global pension funds
The Hindustan Times has reported that Parag Saxena, co-founder and CEO of Vedanta Capital, considers India to be an excellent market for pension funds to invest in. He said that India offered high growth rates of 8% to 10% a year, coupled with limited risk relative to other markets which makes investment an attractive option.
CANADA – BCE debt rating ‘junk’
Standard & Poor’s has lowered the credit rating of Canada’s Bell Canada Enterprises (BCE) Inc. to junk status, TheStar.com has reported. The move comes as a result of the approval of a US$52bn agreement with the Ontario Teachers Pension Plan and its partners.
GERMANY – Commerzbank confirms sell-off
Commerzbank AG had confirmed it has sold its Japanese asset manager, Commerz International Capital Management, to Fortis NV according to Marketwatch website.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers