Including: UK - Barings Asset Management launches new Quant fund; US - AEGON unaffected by subprime; UK - FRC appoints non-execs; AUSTRALIA - Global regulations will impact processes
UK - Barings Asset Management launches new Quant fund
Barings Asset Management has launched its fifth long/short equity hedge fund, the Barings Emerging Market Absolute Return Fund.
The new quantitative fund is to be managed by Marlies van Boven, head of quantitative analysis, based on his own forecast model.
US – AEGON unaffected by subprime
AEGON has announced that its US subprime securities portfolio has not been downgraded in the recent Moody’s Investors Services rating agency review.
AEGON CFO, Jos Streppel, said this reflected the high quality of the portfolio and he expected no material impairments to its subprime investments when the group announces third quarter results in early November.
UK – FRC appoints non-execs
The UK’s independent corporate reporting and governance regulator, the Financial Reporting Council (FRC), has appointed a number of non-executive members to its board.
The new members, Eric Anstee, Rudy Markham, Sir Michael Rake, Sir Steve Robson, Sir John Sunderland and Lindsay Tomlinson will officially take their positions on 1 November.
AUSTRALIA – Global regulations will impact processes
ITG has warned that Australian brokers and traders will have to adapt to new regulations in Europe and the US in order to remain competitive.
Europe’s MiFID the US’ Reg NMS will introduce ‘best execution’ practices to improve efficiency and reduce the cost of trading.
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