US - The California Public Employees' Retirement System is to appoint a senior risk officer and launch a 24-hour whistleblower helpline following the Bell City fraud scandal.

SWITZERLAND/GLOBAL - Swiss alternative asset manager LGT Capital Partners has closed three private equity funds after raising $4.1bn from institutional investors.

US - Governor Chris Christie has unveiled a proposed series of cuts across state pensions as he tries to shore up a deficit that sits at $46bn, and growing.

UK - ‘Beauty parades' used to hire traditional investment managers don't work with transition managers, said Andrew Williams, principal at Mercer Sentinel.

US - Almost all pension executives prioritise funded status over increasing returns, an SEI quick poll shows.

CANADA - Ontario Teachers' Pension Plan has decided to sell its 25% stake of CTVglobemedia to BCE (Bell), the parent company of Bell Canada and Bell Aliant.

Goldman Sachs Asset Management said its global chief investment officer will retire by year-end, while the firm announced the promotion of Jim O'Neill to the new role of chairman.

GLOBAL - Goldman Sachs Asset Management said its global chief investment officer will retire by year-end, while the firm announced the promotion of Jim O'Neill to the new role of chairman.

UK - Transition managers have been too reluctant to release their track records to clients, said Graham Dixon, director at Inalytics.

UK - There is little transparency around the value algorithms add to transitions and how they are incorporated into the cost, Peter Halligan, an associate in the global investment practice at Hewitt Associates told delegates at the GP Transition Management...