INCLUDING: NETHERLANDS - ABN Amro saga rumbles on, UK - AXA IM launches currency fund, NETHERLANDS -ABP sorts out trades, CANADA - Actuaries call for change.
NETHERLANDS – ABN Amro saga rumbles on
The attorney-general to the Dutch Supreme Court has argued that ABN Amro did not need to put the sale of its US subsidiary, LaSalle, to a shareholder vote.
He recommended it overturn the decision by the Enterprise Chamber, which ruled the Dutch bank could not sell LaSalle without shareholder approval.
UK - AXA IM launches currency fund
AXA Investment Managers (AXA IM) launched its first active currency fund.
The AXA IM Currency Ultimate is targeted at institutional investors aiming to gain active currency alpha through investing a small proportion of their total assets in the fund. The fund is a Luxembourg-based UCITS III product.
NETHERLANDS –ABP sorts out trades
ABP Investments has linked to the Omgeo Central Trade Manager (CTM) through an interface directly from its Bloomberg Portfolio Order Management System (POMS) to enable the automated processing of fixed income and equity cross border and domestic trades.
CANADA – Actuaries call for change
The Canadian Institute of Actuaries has outlined a ten point plan to reform the country’s pension system.
It suggested legislation should be passed on a number of issues to make defined benefit (DB) plans attractive to Canadian workers.
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.