United Kingdom
US asset manager buys majority stake in Hermes IM
One of the biggest US fund managers Federated Investors has bought a 60% stake in Hermes Investment Management from the UK’s BT Pension Scheme in a £246m ($350m, €284m) deal.
Pensioners bankrolling three generations
Nearly a third of those in the UK planning to retire in 2018 are financially helping out their families to the tune of around £4,300 ($4,829, €3,913) a year, increasing pressure on their own retirement plans and income, research from Prudential shows.
LGT digitalises the client experience
LGT has launched the first phase of its digital client lifecycle system.
Schroder UK Growth board ditches Schroders for Baillie Gifford
The board of the Schroder UK Growth fund is dumping Schroders as its manager and replacing it with Baillie Gifford, citing continuous underperformance since inception as the reason behind the decision.
Administrators appointed to The Lifetime Sipp Company
Joint administrators have been appointed to wind down The Lifetime Sipp Company, a Financial Conduct Authority-regulated self invested personal pension scheme administrator based in south-west England.