TURKEY - HSBC is to manage all of Allianz Turkey's personal pension funds as part of a partnership deal between the two companies.
As of today, all assets and liabilities of Allianz personal pension investment funds in Turkey will be managed by HSBC Portfolio Management. Allianz Turkey chief financial officer Solmaz Altin said:...
Towers Watson has expanded its presence in Turkey by establishing a new subsidiary in Istanbul.
TURKEY - Anadolu Hayat Emeklilik AS, Turkey's biggest manager of pension funds, has started buying the first lira- denominated bonds ever sold by local banks to benefit from higher returns than are available on government debt.
GLOBAL - The International Accounting Standards Board (IASB) today voted to not move forward with plans to eliminate the use of government bonds to determine discount rates.
GLOBAL - The average assets to gross domestic product ratio for OECD pension funds dropped from 75.5% of GDP in 2007 to 63.4% in 2008, according to the Organisation for Economic Co-operation and Development.
TURKEY - ING has agreed to pay €110m for Oyak Emeklilik, Turkey's only voluntary pension fund for private pension fund management.