There will be no news alert on 8 September as the GP staff will be attending the Global Pensions Transition Management Forum.

ITALY - Fondo Previdenziale Pegaso, the pension fund for employees in the Italian utility services, has hired State Street Global Advisors to run a €60m (US$76m) active fixed income mandate.

Dutch firm Royal Philips Electronics is selling its entire stake in NXP Semiconductors to its UK pension fund.

NETHERLANDS/UK - Dutch firm Royal Philips Electronics is selling its entire stake in NXP Semiconductors to its UK pension fund.

The Organisation for Economic Co-Operation and Development has encouraged the International Accounting Standards Board to review the definition of DB and DC plans as they relate to international accounting standards.

GLOBAL - The Organisation for Economic Co-Operation and Development has encouraged the International Accounting Standards Board to review the definition of DB and DC plans as they relate to international accounting standards.

Investec Asset Management said it's selling government bonds and betting U.S. interest rates will rise as concern economic growth is faltering is "overdone".

GLOBAL - Investec Asset Management said it's selling government bonds and betting U.S. interest rates will rise as concern economic growth is faltering is "overdone".

SOUTH AFRICA - SEI Investments (South Africa) has hired Giles Mokoka as managing director in Johannesburg.

SWEDEN - Towers Watson has expanded its footprint in the Nordic region with the acquisition of consulting firm HRS.