News

GLOBAL - The worldwide economic slowdown has impacted fund managers, forcing a revision and polarisation of asset allocations, according to a survey by Merrill Lynch.

UK - Pension fund buyout company Pension Corporation has taken over competitor Synesis Life, a source close to the deal confirmed to Global Pensions.

UK - Over 40% of UK defined benefit (DB) pension schemes are expected to have closed to future accrual within the next five to 10 years, up from the current 6%, Watson Wyatt has found.

GLOBAL - Watson Wyatt (WW), Newton Investment Management and State Street Global Advisors (SSgA) have made senior appointments, while Barclays Global Investors (BGI) announced the opening of an office in the Middle East.

US - Asset manager Northern Trust has released its Q2 results, which showed a 24% rise in revenues over the same period last year.

COMBINING an annual management charge and a contribution charge will bring sustainability to personal accounts, Aegon says.

BBC Resources workers have accepted a revised pensions and pay deal, the Broadcasting Entertainment Cinematography and Theatre Union announced.

BARING Asset Management is set to launch a Middle East and North Africa fund.

MORE than one million people who lost money when Equitable Life collapsed have been warned that compensation claims could take over a decade.

CARDANO has expanded its London-based investment management team with the appointment of Hemmo Hemmes.