View more on these topics

Rally halves DB deficit

Britain’s biggest companies have seen defined-benefit pension deficits fall by £26bn in the last 12 months as quantitative easing and the eurozone debt deal saw equ- ity markets to rally in October.

A monthly index of the funding position of UK DB schemes, by pension consultant JLT Pension Capital Strategies, shows the value of assets held by FTSE 100 pension funds rose from £401bn in October 2010 to £416bn last month. Liabilities fell by £11bn from £455bn to £444bn, with total deficits of FTSE 100 companies falling from £54bn to £28bn.

JLT Pension Capital Strategies managing director Charles Cowling says: “Now could be the time for trustees to take advantage of market opportunities and manage down liabilities via de-risking strategies.”

Hargreaves Lansdown head of advice Danny Cox says: “Markets remain volatile, gilt yields remain low and longevity costs continue to increase. At some stage, we will see interest rate rises, which will put pressure on gilt values and deficit levels of DB schemes.”



Skandia Investment Group relocates to London

Skandia Investment Group has announced it will relocate all its UK staff to London from Southampton by 2013 following an internal business review. Currently 57 staff are located in Southampton, two thirds of SIG UK staff, the firm says it is hoped most of the Southampton staff will move to London. As a result of […]

Schroders announces £101.6m pre-tax profits for Q3

Schroders has announced pre-tax profits of £101.6m for the third quarter of 2011. The figure is up on the £94.5m in the third quarter of 2010. Profit before tax for the nine months to September 30, 2011, stood at £317.3m, up from £282.7m in the nine months in 2010. Asset management revenues for the third […]

FSA warns of effects of Europe loan proposals

The FSA has expressed concerns about a range of proposals from Europe on future regulation of the mortgage market, including plans to enforce whole- of-market Speaking at the Council of Mortgage Lenders’ annual conference last week, FSA director of conduct policy Sheila Nicoll said there are aspects of the European Commission’s mortgage market proposals that […]

King backs bid to make BoE more accountable

Bank of England governor Mervyn King has told MPs he would back the creation of a new Parliamentary committee to boost the bank’s accountability. Under proposals in the draft Financial Services Bill, the bank’s powers will be extended considerably. The Prudential Regulation Authority and the financial policy committee will be based in the bank, alongside […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm