After the act: although the initial response to the recently enacted pension law has been quiet acceptance, many in the industry believe the terms of the Act will, longer-term have a major impact on the investment strategy of pension funds

Article Abstract:

The Pension Act which recently became law was prompted by the Maxwell issue, and is mainly concerned with the security of pension fund assets. However it is likely to make a major impression on the way pension funds are invested, particularly in relation to the Minimum Funding Requirement (MFR). This requires schemes to have sufficient assets to cover certain liabilities. Many pension funds may need to move to a strategy that is more sensitive to the MFR.

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Have the fab four had their day?: Toppling Gartmore, Mercury Asset Management, PDFM and Schroder from their positions at the top of the pension fund industry league table may prove an arduous task for rival managers

Article Abstract:

Gartmore, Mercury Asset Management, Schroder and PDFM have taken the major share of new segregated pension fund business for severl years. However Gartmore saw a relatively poor investment return in 1994, and there are questions as to whether the four can maintain their top position. Some belive their dominance has been overstated and that other companies are increasing their market share.

Market share, Mercury Asset Management PLC, Schroder Investment Management Ltd., Gartmore Investments Management Ltd., PDFM Ltd.

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Cash management: the Barings collapse shocked many fund managers into the relaisation that placing too much cash in one basket could prove to be a disastrous arrangement

Article Abstract:

Pension fund trustees had not given much attention to how their cash was managed, prior to the Barings collapse. Barings INvestment Management (BIM) had placed 100% of pension fund clients' cash with a single bank. However there is concern that the more a fund is spread out, the poorer the overall return may be. Some fund managers maximise returns via a pooled loan facility.

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