Closed funds eyed up - papers 22 July

The documents have been released in association with a £400m fund raising exercise, which will partly be used for the £875m acquisition of the RSA fund. At least three providers have shared “confidential” information on their closed life funds, and Resolution has passed on non-binding bids for all three, the paper adds. Other closed funds Resolution may be looking at include those belonging to Canada Life, Swiss Life, Winterthur and Chesnara – the latter spun out of Countrywide Assured. The £170bn closed life fund sector could balloon to £300bn over the next few years as more funds...