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Tesco posts record loss of £6.4bn

Tesco has posted a record loss of £6.4bn, one of the biggest losses outside of banking in British corporate history. In its annual results, published today, the supermarket group revealed it made a pre-tax loss of £6.38bn in the year to the end of February, compared with a pre-tax profit of £2.3bn the previous year. […]

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Advisers back away from DB transfers

Just one in four advisers are willing to work on transfers out of defined benefit pension schemes, boosting calls for new regulatory guidance. A survey of 248 advisers conducted by NMG Consulting found just 27 per cent would undertake DB transfers, while around half said they they would not. A quarter of respondents were undecided. […]

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Aegon UK managing director David Macmillan to exit

Aegon UK managing director David Macmillan is set to leave his role in the summer to join the firm’s US business, Money Marketing can reveal. Macmillan, who is also chief marketing officer at the provider, will join Transamerica later this year to become chief customer experience officer. An Aegon spokesman says: “David Macmillan has been promoted to […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]

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