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Aegon and UBS team up to provide pension buy-out service

Aegon and UBS Global Asset Management are to join forces to create a bulk annuities service to help large companies offload their pension fund liabilities.

The UBS Aegon Affordable Risk Transfer Solution will be aimed at pension funds with liabilities in excess of £300m and will combine insurance, administration, asset management and risk management capabilities.

Aegon chief executive Otto Thoresen says: “Linking with UBS Global Asset Management will enable us to provide a bespoke bulk annuity service to a different segment of the corporate market from the SME market where we have made a strong start.”

UBS Global Asset Management head of global investment solutions Brian Singer says together the two companies can provide customised solutions to their clients’ needs.

He says: “ This initiative brings longevity risk management into the toolkit of the asset manager and perfectly complements our dynamically-managed investment solutions for pension plans.”


‘Rate rise does not go far enough’

F&C growth and income manager Ted Scott has hit out at the Bank of England’s monetary policy committee for raising the base rate by just 0.25 per cent.Scott says although rates are now at 5.5 per cent, the highest level since 2001, the committee could have gone further to tackle inflationary demands, meaning another rise […]

Practitioner panel warns FSA about effect of too many reviews

The Financial Services Practitioner Panel has urged the FSA to consider the impact on retail firms of the number of reviews, projects and thematic initiatives it conducts.Speaking on the release of the FSPP’s annual report , chairman Roy Leighton says the FSA needed take into account the industry impact of so many initiatives especially as […]

GMAC-RFC launches two year fix at 5.25 per cent

GMAC-RFC new chief executive officer Simon Knight has marked the start of his tenure with the launch of a mainsteam two year fixed product at 5.25 per cent.Knight says: “We have made this dramatic move for three key reasons. First, to offer consumers fixed rate protection in a rising rate market at rates significantly cheaper […]


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