CHINA - The Chinese Security Regulatory Commission has given final approval to a fund management company jointly operated by Merrill Lynch Investment Managers (MLIM).
Bank of China International Investment Managers, operated by MLIM, BOC International China Limited and BOC International Holdings, is headquartered in Shanghai and will provide fund management services.
Seiichi Fukuyama, COO of MLIM Asia Pacific said: “By the granting of the final license to Bank of China International Investment Managers we are taking a substantial step forward into a vast market which we expect will benefit from solid growth in the foreseeable future.”
The People's Pension, Atlas Master Trust and The Cheviot Trust have been granted authorisation from The Pensions Regulator (TPR), taking the total number of authorised master trusts to 18.
Pension schemes have been warned they may now face a more challenging legal test if they wish to fix drafting errors.
The Greene King Pension Scheme has appointed XPS Pensions as its actuarial and investment adviser following a competitive tender process.
Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...