EUROPE - ABN AMRO Global Liquidity Fund (GLF) grew by more than e1bn to e3.2bn in the first six months of this year, increasing its market share by more than 2%.
The fund invests in short term quality instruments, with the aim to make more effective use of corporate treasuries and financial institutions’ cash balances.
“On the pensions side there is a focus on security of the investments, and a little bit less on return, given the turmoil we had in the previous year” said Sander Boelen, director of sales, liquidity services at ABN AMRO.
“In that sense it’s helping us grow these types of assets or funds, where they will be used as a vehicle to park a part of the cash. Many pension funds will have a large proportion of cash in their portfolios at the moment waiting to see where the market is heading to before they invest.”
Of e3.2bn in the fund, pension money accounts for around 5%, but most of this has come into the fund only in the last year, said Boelen.
Hargreaves Lansdown and Liberty SIPP have again been named as the slowest two providers to move pensions through Origo's Transfer Service.
The Pensions Regulator (TPR) increased its use of frontline powers by 32% over the last year, it confirmed in its annual report and accounts.
The Pensions Regulator (TPR) is considering plans to combine its 15 codes of practice into a single, shorter code as part of its 'clearer, quicker and tougher' initiative.
HM Revenue and Customs (HMRC) does not know how many people it has fined for breaching pension tax relief rules, a Freedom of Information request has revealed.