GLOBAL - UBS Group has topped the annual worldwide global money manager's survey, compiled in conjunction with Watson Wyatt.
The Zurich-based UBS’s US$1.5tn assets make it the largest fund manager in the world.
Barclays Global Investments was the highest ranking UK investor, in seventh place, with US$769m. HSBC Holdings was the next highest UK entry with US$284m in 30th place, followed by Prudential M&G with US$221m in 44th place, Legal and General with US$177m in 55th place and Schroders with US$160m in 60th place.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.