Blue-chip companies’ pension funds have nosedived from a surplus position
into a £25bn deficit as a result of the current stock market crisis.
The UK’s top 200 companies have taken a battering because 57% of their assets
are held in shares.
Bond yields have offset the stock market freefall, and pension fund trustees
are shifting more of their assets from equities into the lower risk area.
Actuaries Lane Clark and Peacock calculated that £15bn has been moved from
equities to bonds.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016