Clerical Medical has announced it will reopen its segregated pension fund business, after an absence of almost half a year.
Company spokesman Tony Bloomer said that Clerical Medical had written to its clients and consultants informing them that the integration of Equitable Life was complete and the company could now devote more attention to its segregated pension fund business.
“Clerical Medical had a presence within segregated pension funds for seven years, but with the purchase of Equitable Life through Halifax, the company has been too busy focussing on the uptake of Equitable business to focus on its segregated business.”
Clerical Medical acquired the £32bn investment management operation of Equitable Life in February this year in a move that increased the company’s funds under management to around £65bn.
By Janet Du Chene
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
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