Three European investment companies have joined forces to form new asset management firm, F&C.
UK's Foreign & Colonial Management, the Dutch managers Achmea Global Investors and Portugal's AF Investments have formed the new group to manage European pension assets.
The creation of the new business follows the acquisition of Foreign & Colonial Management by financial services group Eureko BV. The combined business will have over EUR100bn of European sourced assets.
Commenting on the group, F&C CEO Robert Jenkins added that the group came at a time when the European asset management industry is undergoing rapid change as the momentum towards an equity-based long-term savings culture gathers pace.
By Janet Du Chenne
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.