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%.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
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