News in brief - 25 September 2020

iPensions Group launches The Platform Self-Invested Personal Pension (Sipp).

The company, which has recently rebranded from Momentum Pensions, said the Sipp is the first of several planned technology-led solutions aimed at providing advisers and clients with “transparency, control, and choice”. The product will allow advisers and clients to choose from over 2,500 investment options that have gone through a due diligence and selection process. iPensions CEO, Sandra Robertson, said: “The market for pension consolidation will continue to expand as UK and non-UK residents look to bring all their pension schemes together and The Platform Sipp is ideally positioned to support advisers and their clients.”

Legal & General (L&G) has helped over a million more customers with its online services over lockdown.

The pension provider said it had used lockdown to update and digitise some of its services to help vulnerable customers. These changes included phone-based pension benefit claims, adaptations to allow for digital signatures from customers and online bereavement forms. L&G said customer feedback had been positive, pointing out that its Net Promoter Score of 73 denoted “world class service”. L&G Retirement Institutional chief customer officer, Dave Poulton, said: “I’m delighted at how quickly we were able to adapt our working practices and processes, which helped us maintain our high level of customer service and support to our customers.”

Aegon Asset Management (AM) has launched its new Aegon ABS Opportunity Fund

Aegon AM said the new fund built on its track record of delivering superior total returns from asset-backed securities (ABS), stating that the fund would leverage the expertise of its 20-person global ABS team. The team has extensive experience in managing ABS portfolios with different risk-return profiles and currently manages €15bn (£13.7bn) in ABS globally. The fund will focus on investment in ABS with a credit rating deemed to be non-investment grade and is designed to invest across the global ABS area with a focus on European markets. Aegon ABS Opportunity Fund lead portfolio manager, Frank Meijer, said: “We believe that clients have been drawn to ABS for a number of reasons, not least the attractive yield offered compared to traditional fixed income.”

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