FRANCE - Crédit Agricole Asset Management (CAAM) increased its assets under management by 11.6% to end 2006 at €534.8bn.
The asset manager announced it was awaiting approval to continue its expansion in the Far East through a joint venture with Agricultural Bank of China.
A new Sydney sales and representative office was also opened in January this year to expand CAAM’s Australia, New Zealand and Pacific zone presence.
Asset management achieved further international expansion and robust business levels in France. The
Group won a number of awards for its asset management products and investment quality, including the
Atout Vivactions special jury prize and the institutional innovation award for CAAM Volatilité Actions. In
addition, Crédit Agricole won the Corbeille d’Or 2006 award, with LCL in third place.
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.