GLOBAL - State Street is estimating it will retain 90% of Deutsche Bank's custody clients following the acquisition of its global securities services business.
Deutsche’s global securities business will be fully integrated by the middle of 2004 and State Street says it will have retained over 375 schemes and other institutional clients.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.