UK - Baillie Gifford has launched an aggressive international equity product aimed at UK pension funds.
The new product will invest in all world markets, excluding the UK, and will target a 1.5% outperformance of benchmarks, said the firm.
Ballie Gifford’s chief investment officer Richard Burns said: “As the idea of the ‘global village’ gets closer, the investment opportunities become increasingly interesting so I welcome developments which lead us, and the market, to think more expansively.”
Nigel Morecroft, a partner at Baillie Gifford, added: “We've been planning this new product for some time to meet the increasingly sophisticated needs of UK pension funds.
“However, with markets in their present depressed state we anticipate that UK pension funds will be seeking outperformance to make up for recent losses including looking at the greater opportunities provided by international markets.”
By Janet Du Chenne
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.