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Hermes plans stakeholder launch


Fund management group Hermes which manages the British Telecom and Post Office pension funds is planning to launch into the stakeholder pension market through life assurance groups and trade unions.


Hermes to offer the pension in conjunction with Liberty International, the financial services and property company.


It will specialise in managing index-tracking funds to keep within the Government- imposed 1 per cent cap on charges.


The fund is unlikely to target individuals but it is possible that BT and the Post Office, whose pension funds are also managed by Hermes, may offer their own stakeholder pensions.

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