UK - Dexion Capital is launching a second London-based fund of hedge funds, which aims to return an average of around 15% per annum.
The Dexion Equity Alternative fund – which will be launched next month in association with ABN AMRO – will be sterling hedged and advised by the US-based hedge fund manager K2 Advisors.
The Dexion fund will follow the same investment policy as K2’s Investment Partners hedge fund, which has delivered compounded average annual returns of 15.8% since inception in 1994.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.