UK - Pension scheme shifts from balanced to specialist mandates underpinned Royal London Asset Management's strong second quarter performance.
The inflow of new institutional funds under management increased by £500m – nearly 60% – on the corresponding period last year.
RLAM chief executive Andrew Carter pointed out that research by Greenwich Associates found that the use of specialist managers by schemes had increased by 35% over the past five years.
And Carter believes the shift towards specialist managers is a positive one.He said: “It reflects an acceptance that management houses will excel in different areas, rather than similarly across all asset classes, which is common sense.
“At Royal London we have an excellent fixed interest team, whose distinctive story and even more distinctive results have attracted new clients to us.
“I think we have surprised many larger and better-known firms who felt we would prove to be ‘a flash in the pan’.”
Potential changes to accounting standards and increased pressure on companies to accelerate contributions could worsen FTSE 100 scheme funding by up to £100bn, according to Lane Clark and Peacock (LCP).
Smart Pension has taken on over 20,000 active members from the £20m Corpad Master Trust, following a strategic review by the ceding firm's trustees.
The Universities Superannuation Scheme (USS) allegedly obstructed a whistleblower as she tried to discover the true value of the deficit in its defined benefit (DB) section, according to reports.
The Cost Transparency Initiative (CTI) has launched a number of templates and guidance to help pension schemes deliver greater value for savers with enhanced disclosure of transaction cost information.