GLOBAL - Companies in more countries are starting to adopt the two-tier model of defined contribution funding typically found in the US, said Craig Burnett, Mercer's European head of DC.

US - The funding status of US corporate pension funds improved nearly three percentage points in July on the back of strong global equity performance, BNY Mellon Asset Management says.

UK - SL Investment Management, a traded endowment policy (TEP) and life settlement product provider, has acquired competitor PolicyPlus.

US/UK - Curtis Arledge, former chief investment officer for BlackRock's fundamental index portfolio, will join BNY Mellon Asset Management as vice chairman and chief executive.

Curtis Arledge, former chief investment officer for BlackRock's fundamental index portfolio, will join BNY Mellon Asset Management as vice-chairman and chief executive.

GLOBAL - A growing number of multi-national companies are developing global pension committees and policies in order to gain a better grasp on their fund liabilities, says Mercer global chief retirement strategist Bruce Rigby.

US - New York City Mayor Michael Bloomberg has hired the city's first chief investment advisor tasked with helping to reign in spiralling pension costs.

US - Current accounting standards in the US have discouraged the use of de-risking strategies among corporate pension funds, Mercer says.

US - Toyota Motor Corp. will face a Maryland public pension fund as the lead plaintiff in a consolidated shareholder lawsuit in which it's accused of failing to disclose defects related to sudden acceleration.

MEXICO - US-based real estate developer AMB Property Corp. said it raised $260m primarily from Mexican pension plans, known as AFORES, for an industrial real estate fund, the AMB Mexico Fondo Logistico.