The Financial Conduct Authority (FCA) plans to investigate absolute return funds as part of its review into the asset management market, amid poor performance despite the flood of money being pumped into the strategy.
The half year numbers out from three of the UK’s largest insurance companies over the past few days illustrate the increasing importance of backing the right asset management horse.
Standard Life has reported a small rise in assets held in offshore bonds on its wrap platform as part of its strong set of half year results for 2016, which also included details of the company’s expansion into India’s private pension market.
Canada Life has reassured financial advisers that clients using its life bonds can still access their money even if part of their funds are in suspended UK commercial property funds.
Customers with investments in Standard Life’s assurance bonds have been told they cannot access their money if any part – however small – of their funds are in ill-fated UK commercial property funds.
Standard Life is launching a suite of materials to offer more support to advisers in the defined benefit (DB) to defined contribution (DC) transfer space.
Last week’s suspension of several daily-traded, open-ended property funds demonstrates that the concept is ‘absurd’, according to Seneca Investment Management.
Henderson Global Investors and Columbia Threadneedle have announced they have suspended all trading in their respective UK property authorised investment funds (Paifs) and feeder funds, the firms said on Wednesday.
Aviva Investors and M&G Investments have suspended trading in their UK property funds, a day after SLI took the same decision, making it three of Britain’s top five funds in the sector that have shut their doors since the Brexit vote.
Financial services giant Standard Life Investments (SLI) has suspended all trading in its UK Real Estate Fund following an increase in redemption requests, triggering share sales in property and asset management companies.
The three largest multi-strategy funds for sale in Europe have fared better than most other absolute return funds since the UK’s shock vote to leave the EU. However, the Standard Life GARS fund continues to underperform its peers on a longer-term basis.
Shares in the world’s largest life and pensions companies have been hit for a second day following the announcement on Friday that Britain has decided to leave the European Union.
