UK - Scottish Widows Investment Partnership's money market fund was the best performer over the past 12 months, according to the Institutional Money Market Funds Association.
SWIP’s sterling liquidity fund is currently worth £7.8bn and investment manager Jennifer Gillespie said: “We expect to see an increase in the size of the sterling and euro funds as more firms have these investments added to their permitted lists.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.