Week on the web

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

Canada funds sue Sino-Forest
CANADA - Two pension funds have filed a C$6.5bn ($6.5bn) class action lawsuit against China-based timber company Sino-Forest and its auditor Ernst & Young.

Monday Movers
APG Group; BNY Mellon; Dreyfus Corporation; Northern Trust; TRS; QIC; AXA Investment Managers; Acadian Asset Management; BlackRock; Aon Risk Solutions; SSgA; Mercer; RBC Dexia Investor Services; Schroders

RBS predicts 'violent' Greek default by December
EUROPE - RBS expects Greece will experience a hard default this December in a move it says will cause "violent contagion" in global markets.

Hermes BPK starts seeding platform for hedge funds
EUROPE/US - Hermes BPK Partners, the hedge fund investment arm of institutional manager Hermes, is to support and seed hedge fund businesses as the climate for start-ups in the $2trn industry re-emerges.

GM wants pension risk "off the table"
US - General Motors is looking to completely de-risk its US pension fund which currently touts a $10.8bn deficit, vice chairman Steve Girsky said yesterday.

Prudential set to launch longevity insurance for US
US/GERMANY - Prudential is preparing to launch the first longevity insurance product in the US "very soon", delegates at the Longevity 7 conference in Frankfurt were told.

Allianz restructure broadens PIMCO's reach
GERMANY/US - German insurer Allianz has announced a restructure of its asset management business that gives subsidiary PIMCO, the world's largest bond manager, more freedom around distribution of its products.

Unions sue New Jersey over pension reform
US - Local unions have filed a lawsuit against New Jersey to overthrow a new law which requires employees to contribute more for their pension.

CalSTRS to manage LAUSD plan
US -The California State Retirement system (CalSTRS) is to oversee the Los Angeles Unified School District's (LAUSD) defined contribution plan.

Active ETFs likely to fuel growth in US market
US - The growth of the US ETF market is likely to be driven by active ETFs as a number of potential new issuers are seeking to list them, according to the New York Stock Exchange.