GLOBAL - Gold will provide a safe haven for pension funds over the coming year, Axa Investment Managers says.
It believes low interest rates, a volatile global political environment and uncertainty over the stability of the dollar, euro and yen, make gold an attractive investment.
But Axa insists gold is not a long-term investment for pension funds. Axa’s report – Gold: Port in a Storm – says: “Any improvement in the geopolitical situation will weigh on the price of gold, as will a strong global economic recovery and subsequent tightening of monetary policies.”
Last year, the price of gold climbed by 26% while the Philadelphia Gold and Silver Index rose by over 45%.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.