The league tables of life insurers and trust banks managing pension funds’ investments in pooled accounts and tokkin, where newcomers would find significant barriers to entry, remained very much the same at the end of the financial year on 31 March, according to a recent report in Nenkin Joho which uses book values in its rankings.
On this basis, pooled assets under management fell by an overall 2.9% compared with a decline of on 8.52% when measured by market values (as already reported in Pooled pensions biz holds up slightly better than segregated see below). The drop comes from a decline in the number of pension funds which is, in turn, due to schemes closing, changing type or merging.
The business in tokkin accounts fared a little better at -1.47% than that in pooled arrangements which fell by 6%.
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