CHINA - HSBC Holdings has revealed it is considering establishing a joint venture pension fund firm with BoComm, China's fifth largest bank.
HSBC Holdings bought a 19.9% share in the bank in 2004 and is said to be optmistic about gaining a stake in China's pensions market.
In a separate development, HSBC also announced it would launch two emerging market debt funds at the end of the month.
The Global Emerging Markets Local Debt fund is targeted to outperform local market benchmarks by 3% per annum, and the New World Income has an absolute return objective of Libor plus 5% per annum.
The funds are to be managed by Peter Marber and the team at Halbis, HSBC’s fundamental active asset management specialist, using a combination of top down, macro thematic research and fundamental analysis of preferred instruments.
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
Contributions are no longer sufficient to meet regular payments for three-quarters of small- to medium- sized defined benefit (DB) schemes, Buck analysis finds.