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NEST unveils savings blueprint for life after retirement
trueNational Employment Savings Trust published a blueprint for a retirement income strategy that will meet participants’ needs, following the introduction of new pension freedoms by the U.K. government.
U.K.'s Financial Reporting Council investigating KPMG over BNY Mellon audits
trueKPMG is under investigation by the U.K.'s Financial Reporting Council, the country's independent corporate governance regulator, for its conduct in auditing Bank of New York Mellon, which settled earlier this year with the U.K. government's regulatory agency for custody rule violations.
GSAM: Higher allocations to U.K. equities hurt FTSE 350 pension funding in 2014
trueA tendency to overallocate to domestic equities caused the defined benefit plans of the U.K.'s FTSE 350 companies to suffer in 2014, said Goldman Sachs Asset Management.
JPMAM adds global strategist
trueThushka Majaraj joined J.P. Morgan Asset Management as global strategist and executive director in the global strategy team, said a spokeswoman for the firm.
Large U.K. plans lower bond allocations in '14, analysis finds
trueThe average FTSE 250 defined benefit pension fund reduced its allocation to bonds in 2014, said JLT Employee Benefits.
Terra Firma realigns focus, approach
trueOne private equity manager has gone back to the future in its approach to managing client money, as investors are finding deal sourcing difficult in the current markets.
Schroders hires head of U.K. institutional sales and business development
trueJohn Griffiths joined Schroders as head of U.K. institutional sales and business development.
GFOR: NEST uses behavioral economics to enroll members into retirement plan
trueNational Employment Savings Trust Corp. uses behavioral economics to enroll members in its defined contribution plan — and keep them enrolled.
PPF to begin in-house management with LDI assets
truePension Protection Fund will begin bringing some of its investment management in-house, spokeswoman Leonie Furman said in an e-mail.
Firms alter bond portfolios as liquidity concerns mount
trueLack of liquidity in the global bond markets has pushed money managers to alter the composition of portfolios, as concerns mount over an impending crunch in the fixed-income market.
Universities Superannuation Scheme hires head of strategy implementation
trueEmily Porter-Lynch joined Universities Superannuation Scheme, Liverpool, England, as head of strategy implementation, a spokeswoman said.
Pictet Asset Management hires business development manager for U.K. and Ireland
trueIan Burton joined Pictet Asset Management as senior manager, business development, U.K. and Ireland, said Roger Price-Haworth, head of institutional U.K. and Ireland.
Royal Holloway, University of London taps multiasset manager for endowment
trueRoyal Holloway, University of London hired Rathbone Brothers to manage a £20 million ($30.4 million) multiasset endowment fund.
Northern Bank Pension Scheme enters into pension buy-in with Prudential
trueNorthern Bank Pension Scheme, Belfast, Northern Ireland, completed a £680 million ($1 billion) pension buy-in with Prudential.
Funding of U.K. pension plans improves slightly in May
trueThe total deficit of occupational pension funds covered by the U.K. Pension Protection Fund’s 7800 index decreased 0.4% to pound;241.3 billion ($368.8 billion) in May as asset increases more than offset rising liabilities, the PPF’s monthly update showed.