GLOBAL - Strategic and tactical asset allocation decisions are converging into "a more holistic process" as investors refine their risk management post-crisis, State Street says.

US - Citigroup has agreed to pay $75m to settle charges brought by the Securities and Exchange Commission claiming the firm misrepresented its exposure to sub-prime assets to investors.

GLOBAL - Low liquidity levels in the fixed income markets have led investment grade and high yield exchange traded funds to rack up higher-than-expected tracking errors and lower performance, asset manager Robeco said.

ARGENTINA - The Argentinean government has announced an increase in pension payments to retirees of 16.9%, the second rise this year.

US - The Massachusetts Pension Reserves Investment Management Board (Mass PRIM) beat its policy benchmark by 305 basis points in the past year helping to increase total assets by $3.6bn.

JAPAN/UK - Japanese fund house Chuo Mitsui and UK-based Standard Life Investments have partnered to cross-manage funds worth US$2.2bn.

Japanese fund house Chuo Mitsui and Standard Life Investments have partnered to cross-manage funds worth $2.2bn (£1.4bn).

US/UK - BNY Mellon Asset Management co-head and vice chairman Jon Little will leave the firm to join hedge fund Kedge Capital, a London-based alternatives firm.

NEW ZEALAND - The New Zealand Superannuation fund was up 15.45% in the year ended June 30, the second best yearly performance since its inception in 2003.

AUSTRALIA - Australian energy superannuation funds ESI Super and SPEC Super have agreed to a merger deal that will create a new A$3.4bn (US$3.1bn) fund.