News in brief: 5 October

Canada Life has become the brand name for the entire product range of Retirement Advantage, following the acquisition of the company in January 2018. The Retirement Advantage Equity Release business will become Canada Life Home Finance, reflecting the breadth of its product range, which includes buy-to-let. The Retirement Advantage website will close and product and adviser portals move to www.canadalife.co.uk.

Local Pensions Partnership has launched the LPPI Diversifying Strategies Fund, which seeks to generate a diversifying source of return distinct from global equity and bond markets. The £750m Diversifying Strategies Fund looks to exploit a broad range of relative value and macro directional opportunities in global capital markets. The investment mandate seeks investments in a variety of alternative strategies where the drivers of return are not primarily dependent on market factors. The fund takes a multi-strategy, multi-manager approach, balancing risk across a range of return factors and asset classes, in pursuit of the fund’s objective of generating returns with low correlations to traditional asset classes such as equities and bonds.

National financial planner, LEBC Group, has become the approved partner for corporate pension work with the Recruitment and Employment Confederation (‘REC’), the professional body for recruitment. The REC represents businesses through its corporate membership, and individuals through the Institute of Recruitment Professionals. All corporate members abide by a code of professional practice and individual members abide by a code of ethics and professional conduct. REC business partners are selected for their ability to deliver a unique, specialised offering, exclusive to REC members, and support them in the day to day running of their businesses.

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