INCLUDING: EUROPE - BNP completes first Eastern European deals; CANADA - CPP totals CAN$122.7bn; ASIA - Threadneedle opens Asian office
BNP Paribas Securities Services has announced the successful completion of its first transaction on behalf of clients in Eastern Europe. The transactions follow the creation of branches in Budapest, Hungary and Warsaw, in Poland, earlier this year. The firm said the decision to expand into Eastern Europe was a result of the rapid growth in the area.
CANADA - CPP totals CAN$122.7bn
The Canada Pension Plan results for the trading year showed the fund grew CAN$6.1bn over the previous year, but incurred a negative investment return of 0.29%, representing $303m. The fund said the rise was attributable to contributions not required to pay current benefits and the negative returns, although disappointing, were well within the long term risk and return parameters.
ASIA - Threadneedle opens Asian office
Asset manager Threadneedle has opened an office in Hong Kong and has hired James Campion as head of Asian distribution to lead the operation. The move marks a major step into the Asian market, where Threadneedle has been active for some years. The company has $125bn of assets under management.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.