Pearl Group has declared its aggressive takeover ambitions in the pension scheme buyout sector and says it has a £7bn war chest.Speaking at a Cazalet Consulting conference on asset management in UK life and pensions, former pizza to pubs entrepreneur Hugh Osmond was very bullish about the growth strategy of his closed life fund operation. He said the firm will go head to head with new final-salary buyout vehicles, such as Paternoster. He said: “We are definitely in the market and have the capital and strategy to play in size. We want to play in the £1bn-plus market, we are not interested in small deals.” He said the firm’s higher- risk strategy means it is equ- ally interested in taking over ailing companies and turning them into profit- able ones as cherrypicking successful firms. Paternoster chief executive Mark Wood says: “The defined-benefit buyout market is rapidly expanding and, with something in the order of £1trillion assets under management, increased compet- ition is a natural response.”
Money Marketing was named personal finance trade newspaper of the year at the prestigious Brad- ford & Bingley Awards at London’s Great Eastern Hotel last week. The paper was praised for its mix of news and in-depth features.
Demystifying some of the commonly used measures of investment risk
Newcob will give advisers new freedom and responsibilities as prescriptive rules are cut away but the FSA says it will keep a close eye on the qual- ity of the outcome. Speaking to Money Marketing on the release of the Newcob consultation, FSA director (retail policy and asset management sector) Dan Waters says the regime […]
Cirencester Friendly Society has set up a flexible income protection product. Income Assured Plus lets consumers move between protection and investment, protection-only or investment-only options throughout the life of the policy.
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, says the financial market has experienced the ‘Marching Band Effect’ over the past few years, with the various elements moving to left and right together and feeling the risks as one, making the effect more dynamic.
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The New Model Business Academy received just over half the Government funding for its apprenticeship programme it was hoping for, which has led to paraplanner and administrator apprenticeships being shelved. NMBA, which is part of the SimplyBiz Group, announced earlier today it is opening applications for its apprenticeship programme this week. In December, it received […]
Platform Alliance Trust Savings must compensate a client after he was unable to make several investments because the online service was down. The client, Mr W, had around £2m in his Sipp fund with ATS. In late June 2016, his advisers tried to make a number of investments into specific funds, however, these did not […]
Last year, Money Marketing took a deep dive into how advisers are remunerated with an extensive reader survey. This year, we’re going even bigger and better, teaming up with recruitment consultancy BWD to bring you the definitive picture on pay. With your help, we hope to decode how qualifications, employment status, geography, gender, job title and other […]