GLOBAL - Barclays Global Investors profit before tax decreased 19% in 2008, to £595m (US$888m) from £734m posted in 2007.
Income declined by 4% to £1,844m, while operating expenses increased 5% to £1,249m. BGI said operating expenses included charges related to selective support of liquidity products partially offset by a reduction in performance related costs.
It said total assets under management remained flat at £1,040bn - compared to £1.044bn last year.
Barclays - of which BGI is the asset management arm - reported a 2008 £6.1bn profit before tax.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.