US - California state's yearly payment to the California Public Employees' Retirement System could jump 18% after the committee members of the pension fund's board approved a hike in the state's contribution.

FRANCE - French President Nicolas Sarkozy's government said it will raise the retirement age to 62 and increase taxes on capital, seeking to stem losses in the pension system and safeguard the nation's top credit rating.

DENMARK - Dutch pension manager ATP has been appointed administrator to KL, a federation of 98 Danish municipalities, by the ministry of finance.

GLOBAL - The hedge fund industry's assets should surpass US$1.9trn, the record reached in mid-2008, as early as this year as US pension funds add money to the pools, investment consultant Casey Quirk & Associates LLC said.

US - Mercer has agreed to pay US$500m to settle a law suit brought by the Alaska Retirement Management Board alleging the actuarial firm erred when calculating the state's pension liability.

PIMCO has brought its new active equity strategy to the UK with the launch of the PIMCO EqS Pathfinder Fund and the PIMCO EqS Pathfinder Europe Fund.

UK/EUROPE - PIMCO has brought its new active equity strategy to the UK with the launch of the PIMCO EqS Pathfinder Fund and the PIMCO EqS Pathfinder Europe Fund.

NETHERLANDS - Cavenagh Capital, set up last year by former Morgan Stanley and DBS Holdings Ltd. managers in Singapore, will start a new macro hedge fund in July after getting money from the biggest Dutch pension fund.

NETHERLANDS - ABP's coverage ratio dropped six basis points during the month of May to 96%, confirmed spokeswoman Jos Van Dyk.

GP invites readers to attend the Global Pensions Transition Management Forum London on September 8. Attendees will be informed on the latest transition management trends and the state of the ever-changing TM industry.