Macro Views | 4 Aug 16
BoE cuts rates to 0.25%, turns on QE tap
The Bank of England’s monetary policy committee has cut interest rates to 0.25%, and committed to a new term funding scheme to “reinforce the pass-through” of the decision into the broader market.
Strong FPI performance helps lift Aviva’s half year profits
A strong performance by Friends Provident International (FPI) saw Aviva’s operating profit from Asia rise nearly 50% for the first six months of 2016 driven in part by strong sales of protection products and retail health schemes in Singapore.
Sun Life Financial to buy FWD Hong Kong’s pension business
The Hong Kong arm of Canada’s Sun Life Financial is to acquire the pension business of FWD Group and enter into an exclusive 15-year distribution agreement that will allow Sun Life HK to distribute its pension products through FWD’s agency force in Hong Kong.
People Moves | 4 Aug 16
PEOPLE MOVES: HM Treasury, Axa IM, Brooks Macdonald
The UK Treasury is on the hunt for a director general to help navigate the post-Brexit landscape, Axa Investment Managers has added to its UK equities desk, while Brooks Macdonald has strengthened its Channel Islands team.
Woodford asks for patience over trust
High profile fund manager Neil Woodford has sought to reassure investors in Woodford Patient Capital Trust that it will deliver for them if they stick with it.