UK - Balanced managers have lost out in a major strategy switch by the £12bn Royal Bank of Scotland Pension Fund.
Gartmore Investment Management and Newton Fund Managers have both lost out with funds going to Alliance Bernstein, Baillie Gifford, Legal & General Investment Management, Standard Life Investments, State Street Global Advisors and Western Asset Management.
Gartmore chief executive Glynn Jones insisted: “The changes at RBS are not linked to our performance but are part of a broader trend to move to specialist managers.”
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