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.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.