US - Massachusetts is considering an increase to its state employee retirement age and a change in the way state pensions are calculated in a bid to save more than $7bn in costs.

The Alternative Investment Management Association has called for the implemented form of the Alternative Investment Fund Managers Directive to be flexible, proportionate and based on the principles of openness and transparency.

GLOBAL - BNY Mellon has launched a new Sovereign Institutions Group to cater for sovereign pension plans, wealth funds and central banks.

EUROPE - The Alternative Investment Management Association (AIMA) has called for the implemented form of the Alternative Investment Fund Managers Directive (AIFMD) to be flexible, proportionate and based on the principles of openness and transparency....

NETHERLANDS - ING Groep NV, the largest Dutch financial-services company, said it is in talks with potential bidders for parts of its global real estate investment unit as the firm is seeking to reduce property-related risk.

GLOBAL - Institutional investment managers expect global inflation to increase and interest rates to rise in the coming months, research by Northern Trust suggests.

AUSTRALIA - The Australian Institute of Superannuation Trustees (AIST) said super fund members affected by flooding across Australia may be able to seek early access to some of their superannuation.

US - General Motors has contributed $2bn worth of shares to its US pension plans to complete a $6bn cash and shares funding plan.

POLAND - Polish bonds fell for a fifth day, pushing yields on 10-year debt to a one and a half year high, on government plans to cut the portion of workers' contributions to private pensions and on bets the central bank will raise interest rates next...

US - The New York State Common Retirement Fund has agreed a $4.25m settlement in a securities fraud law suit against Merrill Lynch.