M&G Investments' institutional funds have been hit by a £914m net outflow in the first half of 2013, parent company Prudential's interim results show.
The firm saw a net inflow of £667m in the same period last year giving a negative 237% change over the 12 months. The manager said the net outflows largely reflect the start of expected withdrawals...
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.