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.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).