AFRICA - Talks have been held in Nigeria and Ghana to investigate establishing a fiduciary ratings agency in a bid to improve the continent's investment competitiveness.
Hubert Danso, vice chairman, Africa investor, said: "Our research shows that African investment management firms with a fiduciary rating could significantly enhance their ability to compete for capital because they are benchmarked against internationally trusted standards.
"The existence of a fiduciary rating system also demonstrates an openness to good corporate governance which is essential when competing to give domestic and foreign investors the confidence to entrust their funds."
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.