INCLUDING: UK - Martin Currie deal; GLOBAL - Difficulties for hedge funds UK - NAPF appointments;
UK – Martin Currie deal;
Subject to regulatory approvals, Martin Currie has agreed to sell 17.43% of its equity to Crestview Partners and 7.47% to interests associated with Lord Rothschild.
The remaining 75.1% of the company will continue to be held by Martin Currie’s employees.
A spokesman for Martin Currie said the deal would benefit institutional investors.
GLOBAL – Difficulties for hedge funds
Roger Ibbotson, a professor at the Yale School of Management, and the partner, chairman and CIO of Zebra Capita Management LLC, has warned that the hedge fund industry will find it more difficult to generate alpha following the sub-prime crisis.
UK – NAPF appointments;
The National Association of Pension Funds (NAPF) has appointed Alan Chart as a policy adviser, specialising on regulation, at the organisation.
Meanwhile, Mark Brooks has joined as head of press and will be in charge of media relations for the NAPF.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.