Pimco launches fund to help retirees aim for annuities

Pensioner-with-canePimco has launched a fund that seeks to replicate factors that underpin annuity prices so that savers in the UK can get the maximum from their retirement purchase. The Pimco Select UK Retirement Strategy Fund will be managed by Mike Amey, who is based in London. “For most investors, the few years before retirement are when their pension savings are at their highest but also most at risk from irrecoverable losses,” says Amey. It remains to be seen what investor demand Pimco can summon up for the fund, seeing as changes announced by the UK chancellor George Osborne in last year's Budget have scrapped the effective requirement for pensioners to purchase an annuity. Standard Life, a Scottish insurance company, said in August that its sales of annuities halved following Osborne's announcement. ©2014 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

10 Jun 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

13 May 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

13 Oct 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

07 Sep 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.