INCLUDING: UK - Skandia launches institutional share class; UK - The Pensions Report to launch in October; UK - HBOS pension deficit reduced by two-thirds.
UK - Skandia launches institutional share class
Skandia Investment Management has launched an institutional share class for its £431m Global Property Securities fund in response to demand from pension funds.
Skandia said the institutional share class would enable organisations, wishing to deal in high volumes, with a more cost effective way to buy the fund that is managed by LaSalle Investment Management, and who now have US$10bn of assets under management in this asset class.
UK - The Pensions Report to launch in October
The Pensions Report, said to be the annual defining study into the state of the UK pensions market, produced in conjunction with Tax Briefs, has announced that its formal 2007 launch and conference will be held at the Inmarsat Conference Centre, City Road in London on 9 October 2007.
UK - HBOS pension deficit reduced by two-thirds
HBOS has said it is well on track to eliminate its final salary pension deficit. The company said its deficit has been reduced by over two-thirds, on an IAS basis, to £543 million (pre-tax).
In total, HBOS said it has contributed £1.15 billion to the pension fund in two years. Positive stock market movements in recent years have also helped to reduce the deficit.
Willis Towers Watson's LifeSight is the first master trust to be granted authorisation by The Pensions Regulator (TPR).
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.