Including: GLOBAL - Emerging Markets ETF launch; EUROPE - Euro property outlook sunny, UK - PRAG releases accounting guide
GLOBAL - Emerging Markets ETF launch
Lyxor Asset Management (LAM) has announced the launch of four new Exchange Traded Funds (ETFs) exclusively for investment in emerging markets. The funds – Lyxor ETF Russia, Brazil, Asia Pacific ex-Japan and China Enterprise – have been designed for institutional investors and have total expense ratios of 0.65%.
EUROPE - Euro property outlook sunny
Close Investments (CI) have reported on the prospects for the European commercial property market. Strong Eurozone growth of 2.2%, combined with low unemployment and the strong housing market has contributed to a buoyant outlook for property investment. Despite market fluctuations, CI reported that European rental returns were set to be higher than in the UK.
UK - PRAG releases accounting guide
The Pensions Research and Accounting Group (PRAG) has released a booklet for pensions accountants incorporating the latest guidelines on the disclosure of derivatives. The advice in the booklet, “Accounting for Derivatives in Pension Schemes”, was consistent with the Standards of Recommended Practice (SORP) and brings pension schemes into line with the rest of the investment management industry.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.