GLOBAL - The International Accounting Standards Board has issued the official draft of its proposal to eliminate the use of government bonds to determine discount rates.

The International Accounting Standards Board has issued the official draft of its proposal to eliminate the use of government bonds to determine discount rates.

GLOBAL - The United Nations Principles for Responsible Investment (UNPRI) said today three signatories, including the New York State Teachers' Retirement System (NYSTRS), have decided not to participate in the programme.

GLOBAL - Sovereign wealth funds (SWF) may decide to purchase special drawing rights (SDR)-denominated bonds, creating a wider market for the instrument some have touted as the alternative to the US dollar as the reserve currency.

GLOBAL - Sovereign wealth funds will refocus on liquidity and re-evaluate the allocations of their combined US$3.2trn in assets, particularly their exposure to risk assets, as they emerge from the global financial crisis, a State Street panel said.

AUSTRALIA/US - Macquarie Group has agreed to acquire US asset management firm Delaware Investments in a bid to become a more global player.

US - The New York State Common Retirement Fund (CRF) has hired FTSE Environmental Technology 50 and HSBC Global Climate Change Index to invest a combined US$200m in green equity investments, the pension scheme announced.

US - CalSTRS is set to review its global equity mandates and will make changes "as necessary" in the wake of losses in excess of 30% last year, the scheme outlined in its 10-year investment plan.

US - The Missouri State Employees Retirement System (MOSERS) has become the first public pension fund to comment against the Securities & Exchange Commission's proposal to ban the use of placement agents.

AUSTRALIA - Telstra Super has hired Martin Currie Investment Management to run a global alpha ex-Australia mandate.