INCLUDING: NETHERLANDS - AEGON appointments; GLOBAL - Emerging markets under-represented; UK - Henderson wins £130m FI mandate
AEGON Global Pensions. AEGON's cross-border pension subsidiary, has appointed Andrew Wood as regional sales director for the UK, Ireland and Nordics and Thurstan Robinson as communications manager. Wood, who was previously with AEGON Scottish Equitable, takes up his new position on 1 September, while Robinson started his new job at the beginning of July.
GLOBAL - Emerging markets under-represented
Emerging markets will account for 'up to a third' of global market cap by 2018, analysis by Baring Asset Management shows, but are still under-represented in portfolios. Barings said the proportion of global assets represented by emerging markets had grown by about 1% a year since 1999 and currently stood at 13% but it expected a dramatic increase over the next decade. As such, the company said investors had underestimated the role of emerging market equities, which it said were under-valued and below long term averages.
UK - Henderson wins £130m FI mandate
Henderson Global investors has been awarded a £130m (US$258m) fixed income mandate by Chesire County Council's £2.3bn pension fund. Henderson said the assets would be invested in the firm's recently launched High Alpha Gilt and High Alpha Credit funds.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point