UK - King & Shaxson Asset Management has launched a cash management service for pension funds which, it says, will undercut competitors.
The service is aimed at schemes that have more than £5m in cash under management and want to have liquidity in a low-risk environment.
Fixed deposits, certificates of deposit gilts treasury bills, floating rate notes and fixed rate corporate bonds will all be available to clients. The service is run by King & Shaxson’s cash management division, led by Marc Dodd who previously founded Tilney Investment Management’s treasury and fixed interest department and helped build its cash funds under management to over £200m.
Dodd said King & Shaxson’s service would have an aggressive pricing structure to challenge other cash management providers in the market.
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