UK - Fund managers are ramping up their global equity teams as consultants take a growing interest in the market.
- Morgan Stanley moving research on to a “global sector” basis.
- Goldman Sachs increasing the number of its global sector sales specialists.
- Threadneedle Asset Management adding a further two people – Andrew Holliman and Jeremy Podger – to its global equity team.
Threadneedle Asset Management head of global equities Dominic Rossi explained: “We believe demand for various types of global equity products from both retail and institutional clients will increase significantly and have started to build up our global equity team in anticipation of this.”
Morley Fund Management global equities fund manager Paula Allen expects consultants to become increasingly interested in the asset class.
“We are close to the crossroads when there is a real switch over from regional funds to global,” she said.
HSBC Actuaries senior investment consultant Paul Watson agreed that more fund managers were moving towards a global approach.
He said the fact that managers were picking the best stocks from a global universe was more efficient than just tagging together several region funds, and in turn pension funds would get better risk returns.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.