Threadneedle will leave the defined contribution pension schemes market to focus on being a pure investment-manager, Financial News reports. The asset manager has selected Legal & General as the replacement product provider, which will add Threadneedle’s funds to its platform.
Current clients of Threadneedle’s DC pensions business, who accept L&G as their replacement provider, will start the transfer to WorkSave pensions during the third quarter of 2011. The firm has between 50-100 such customers.
Click here for the story from Financial News.
Click here for the additional coverage from Global Pensions.
