INCLUDING: Korea - Standard & Poor's ups Korean coverage; Middle East - Citigroup expands services to region; UK - Deutsche Bank lists money market ETFs
Following an agreement with Korean Listed Companies Association (KLCA), Standard & Poor's Compustat will now include fundamental and market data on all companies incorporated in Korea. Compustat data provides information on companies, indices and industries for institutional investors.
Middle East - Citigroup expands services to region
Citi is to provide agency and trust services to the Middle East, with the initial focus on Dubai, Bahrain, Kuwait, Qatar and Abu Dhabi. Mohammed Al-Shroogi, chairman of Citi for the Middle East, commented: "Global capital flows are being redirected from the West to the Middle East and the region is growing strongly as a result (...) Citi opened a new branch in Qatar in 2007 and is now its extending services to Shari'a compliant escrow services, closing agent and security agent roles."
UK - Deutsche Bank lists money market ETFs
Deutsche Bank has listed the first two exchange traded funds linked to money market rates on the London Stock Exchange. The db x-trackers Sterling Money Market ETF and the db x-trackers US Dollar Money Market ETF reflect the Sterling Overnight Index Average rate (SONIA) and the Fed Funds Effective Rate, representing respectively the British and American short term money market reference interest rates.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.