UK - High numbers of cash accounts available to pension fund managers are offering poor returns and are applying lengthy notice periods, a new report by Scottish Widows Investment Partnership (SWIP) has revealed. SWIP's research claims that the average return on cash balances of more than £1 million, aimed at pension fund managers, is 3.68% Gross AER.
In addition to poor returns offered by some cash accounts to this sector, many also restrict access to funds, with around 40% of accounts having restrictions of between seven days and six months. ...
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