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.
Johnson Controls International has appointed XPS Pensions as investment and actuarial adviser for two of its schemes, following a competitive tender process.
Merseyside Pension Fund has allocated an initial £400m of assets to a smart sustainability fund managed by State Street Global Advisors (SSGA).
This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.
Buck has launched a solution to help pension schemes equalise guaranteed minimum pensions (GMPs) in a cost effective way with minimum hassle.