News

Aegon is withdrawing from the bulk annuities market with immediate effect as part of a restructure of its UK life and pensions business.

Italy - Just a quarter of Italian asset managers are prepared for the imminent introduction of new governance rules, research by BC Dexia reveals.

Global - The European asset management industry is expecting a new wave of international merger and acquisition activity as participants prepare to expand into Europe, Asia and South America, research suggests.

The £1.3bn Superannuation Arrangements of the University of London has awarded a real return investment mandate to Newton Investment Management.

Europe - Aegon UK has denied a report suggesting its Dutch parent is preparing to offload its British life and pensions business for £1.5bn.

David Cameron would face a £200,000 tax bill this year if his pension was subject to the same rules as the private sector, Hymans Robertson says.

Malaysia - The Employees Provident Fund (EPF) recorded an investment income of RM5.55bn (US$1.7bn) for the first quarter of 2010 (Q1 2010) on the back of the recovering global economic and financial crisis.

Industry figures are rushing to lobby the government on crucial pensions issues ahead of tomorrow's emergency Budget.

BP spill will be a watershed; Chancellor's big tent faces stability test; BP oil spill: Tony Hayward will get £10.8m pension if he steps down as chief executive; Large majority opposed to forced retirement at age of 65; Call to increase pension age to...

US - The California Public Employees' Retirement System (CalPERS) has paid £106m (US$155m) to acquire a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).