US-based Federated Investors has completed its acquisition of a 60% interest in Hermes Investment Management from the BT Pension Scheme (BTPS).
With UK-based Hermes running $47bn (£34bn) across a range of strategies and Federated managing $390bn in the US, the deal has created a global fund house responsible for around $440bn. Hermes also represents...
Andy Tarrant says without government backing, the pensions dashboard cannot become the one-stop shop it's intended to be
'Not appropriate to comment'
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.