AUSTRALIA - Superannuation fund QSuper hired State Street Global Advisors (SSgA) to run A$10bn (US$8.5bn) in passive strategies that will provide pre-tax returns that match their respective benchmarks, SSgA said.

KOREA - South Korea's National Pension Service plans to spend a net KRW6.9trn (US$5.6bn) boosting its domestic equity allocation next year, predicting gains as growth in the country outpaces the global economy.

AUSTRALIA - Deputy prime minister and treasurer Wayne Swan said the door is open to negotiations with the mining industry over the introduction of a controversial mining tax meant to bolster superannuation funds.

AFRICA - Investec Asset Management, the South African money manager with $70 billion in assets, said its investments in Africa, excluding South Africa, may triple in the next two to five years as investors seek growth markets.

US - Research Affiliates has partnered with Russell Investments to launch a range of fundamental indices in a move that could help it increase its foothold in the US market, Global Pensions has learned.

US - Officials at the New York State Common Retirement Fund have announced plans to lead a class action against BP over losses related to the massive oil spill in the Gulf of Mexico.

US - The full board of the California Public Employees Retirement System yesterday approved a state contribution of US$3.9bn, up $600m from last year.

US - The Securities and Exchange Commission has proposed new rules around the marketing and advertising of target date funds meant to prevent investors from being ‘misled' when deciding to invest.

CHINA - China's national pension fund plans to increase overseas investments in stocks and bonds, including securities in Taiwan, to boost returns as global markets recover from the financial crisis.

NETHERLANDS - Dutch pension funds should use long-term bond rates to discount liabilities in order to better insulate them from financial crises, the Organisation for Economic Co-Operation and Development said.