AUSTRALIA - INVESCO was the best performing manager for the second year in a row with a 2004 annual return of 22%, according to the latest Intech Growth Funds Survey.
The survey revealed manager performance remained relatively unchanged from the previous year; with all but one of 2004’s top five appearing in 2003’s top 10.
Perpetual came in second with a return of 19% followed by BT (18.5%), AMP Bal Growth (17.8%), IOOF/Perennial (17.7%), Citigroup Growth (17.6%) and Suncorp (17%).
At the other end of the table, Intech said Colonial First State and Credit Suisse repeated 2003’s low position.
The top managers over seven years to 2004, according to Intech, were Maple-Brown Abbott, Tyndall, Schroders, Suncorp, BGI, IOOF/Perennial and ANZ.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers