UK - Raiffeisen Capital Management (RCM) has announced it will offer seven funds to investors in the UK.
Following approval from the Financial Services Authority (FSA), institutional investors can access the funds through RCM’s parent company, Raiffeisen Zentralbank’s (RZB) branch office in London.
RZB’s London branch local representative Richard Buchanan said: “The approval for sale in the UK of seven Raiffeisen Capital Management Funds will give UK-based investment advisers access to a range of investment opportunities in Central and Eastern European (CEE) markets.”
Raiffeisen Capital Management has €42bn in AuM and a market share of 23.5%, RCM is also present in the fund business in Italy, Germany, France, and Eastern Europe.
Raiffeisen Capital Management CEO Mathias Bauer said: “By 2015 we intend to manage a total volume of €100bn, with international customers accounting for 40% of that. The new listings in the UK and Jersey represent another important step in this direction."
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.