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.”
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.