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."
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Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.