Almost all active fund managers fail to outperform the market once fees are extracted from returns, according to research from the Pensions Institute (PI).
The Cass Business School department studied monthly returns of 516 UK domestic equity (open-ended) mutual funds between 1998 and 2008. It found an annual post-fee alpha return of -1.44%, meaning a typical...
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.