BUDGET: Brown accepts Myners report

The recommendations of Paul
Myners’ report on institutional investment have been accepted by the
Government, Gordon Brown has said.

The controversial minimum
funding requirement will be abolished so that life insurance and pension funds
can more easily invest in venture capital.

Pension
fund trustees will have a stronger role and the duty of fund managers to
promote the interests of the fund’s beneficiaries will be made more explicit.

Comments are closed.