JAPAN - Japanese pension funds plan to increase stock and bond investments in emerging markets to diversify their portfolios and boost returns, according to a survey by JPMorgan Chase's asset management business.

US - The California Public Employees Retirement System has struck a deal with Apollo Global Management that sees the private equity fund manager reducing its existing fees by US$125m over the next five years.

US - The average Swiss pension fund tipped over the 100% funding mark in the first quarter, up 10 percentage points from a year earlier, according to Swisscanto's Pension Fund Monitor.

NEW ZEALAND - The Guardians of New Zealand Superannuation fund have axed GMO from three equity mandates.

IRELAND - Bank of Ireland Plc may sell its asset management unit, a pensions business and ICS Building Society to win European Commission approval for a restructuring plan after a government bailout of the country's biggest lender.

AXA Rosenberg chairman Barr Rosenberg will take a 30-day leave of absence after company officials failed to disclose a coding error that disrupted the quant manager's investment model.

US - AXA Rosenberg chairman Barr Rosenberg will take a 30-day leave of absence after company officials failed to disclose a coding error that disrupted the quant manager's investment model.

UK/US - State Street Corp. has taken a minority stake in PensionsFirst Analytics, which offers a web tool that can provide actuarial valuations on a daily basis, and has plans to take the London-based firm global.

State Street Corp. has taken a minority stake in PensionsFirst Analytics, which offers a web tool that can provide actuarial valuations on a daily basis, and has plans to take the London-based firm global.

SINGAPORE - Singapore should consider asking companies to contribute more to employees' pensions as the nation's economy improves, said Lim Swee Say, secretary-general of the National Trades Union Congress.