CANADA: National Bank of Canada (NBC) and BNP Paribas have set up hedge fund managed accounts aimed at pension funds.
According to the banks the funds would be managed by Innocap, a NBC subsidiary which BNP Paribas has invested in.
The banks said Innocap currently advised on over USD 2 billion of assets and provided active daily monitoring of alternative funds, with transparency on underlying positions and on the setting of adequate risk limits an investment guidelines.
They said Innocap would additionally monitor operational risk, and advise on, along with third party service providers, all key operations for the funds.
Global Head of BNP Paribas Equities and Derivatives, Yann Gerardin, said: "Innocap capabilities will enable us to create a new generation of structured products, which we expect will have broad appeal to an international client base."
Hyperbolic discounting and political temptation: Why Brexit-fuelled AE reversal would be a 'monumental' mistake
The home secretary has suggested AE should be scrapped in the event of a no-deal Brexit. Darren Philp explains why this would be misguided
The trustees of the Kodak Pension Plan No.2 (KPP2) have said it will likely enter the Pension Protection Fund (PPF) in "due course" after reviewing the scheme's investment in Kodak Alaris.
A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).
Former BHS chief Dominic Chappell has been accused of trying to rewrite history as he seeks to overturn a conviction for failing to hand over information to the regulator.