UK - Barclays Global Investors has launched two enhanced index fixed income funds which have already secured commitments from energy giant, ExxonMobil.
BGI claims the funds – which will invest in European corporate and government bonds – are the first European pooled enhanced index bond funds to be aimed at institutional investors.
Both funds are benchmarked to the Citigroup Euro Bond Investment Grade Index and the Citigroup Euro Government Bond Index.
The funds aim to outperform these indices by 0.50-0.55% per annum and 0.40-0.45% per annum, respectively. The minimum investment is e250,000 (£171,000).
ExxonMobil’s group pension funds have already committed to the funds.
The schemes have invested e51m in the BGI Euro Corporate Enhanced Index Fund and e99m in the BGI Euro Government Enhanced Index Fund.
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.