FRANCE - Jean-Pierre Mustier, a 22-year veteran at Société Générale (SocGen), and head of the firm's asset management and private banking arms, has resigned amid allegations of insider trading.

CHINA - The China Investment Corp. (CIC) announced returns on its global portfolio of -2.1% in 2008 in the sovereign wealth fund's first publicly reported annual report since its inception.

US - CalSTRS will allocate 5% of its portfolio to absolute return, increase alternatives and slash its equity allocation if proposed changes to its asset allocation mix are approved at an investment committee meeting next week.

SWITZERLAND - The circa CHF12.3bn (us$11.5bn) Pensionskasse Novartis is discussing the closure of its defined benefit structure in favour of a defined contribution arrangement. The board of trustees expects changes to happen as of January 1, 2011, MandateWire...

US - The funding status of S&P 1500 pension schemes dropped in July for the third month in a row on the back of falling AA corporate bond yields, Mercer said.

US - A former Chicago money manager has been ordered to repay five Michigan pension funds US$50m after it was alleged he misappropriated pension fund assets to invest in a strip club and horse farm.

CANADA - The funding levels of corporate pension plans remain higher than expected considering the downturn in the equity markets, rating agency DBRS said.

IRELAND - The average Irish pension managed fund was up 5.7% in July, marking the fifth consecutive month of gains, according to data compiled by Hewitt Associates.

US - The Iowa Public Employees Retirement System (IPERS) is searching for a manager to run a global multi-strategy, multi-asset class investment portfolio that will provide the "alpha" in a portable alpha strategy.

FRANCE- AXA earnings; CANADA- Caisse de dépôt et placement du Québec; AUSTRALIA- Super review panel