INCLUDING: CHINA - Gov considers diversification; CANADA - Stelco pensions safer; US - Fees under scrutiny
CHINA – Gov considers diversification
The People’s Daily Online reported the government was considering diversifying the investment of the pension insurance fund to supplement returns.
The website said this new policy would allow the portfolio to invest in bonds and mutual funds, even selecting separate managers for individual portfolio mandates.
CANADA – Stelco pensions safer
The Globe and Mail reported US Steel would buy Canadian steel company Stelco, to refinance the company’s debt and top up its pension plan to the tune of C$31m.
US – Fees under scrutiny
The New York Times reported that NY state investigators were scrutinising fees paid to a political consultant by investment firms seeking business with the state pension fund.
The paper stated the company which employed the consultant, Hank Morris, received US$12.3 million from the Carlyle Group.
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.