GLOBAL - The relationship between pension funds and their consultants is changing with scheme managers often asking their advisers to be more proactive with their investment advice, industry experts said.

US - The board of the Fresno County Employees Retirement Association (FCERA) approved a search for a US large-cap growth manager after it terminated INTECH and a search for a US small-cap active equity manager to replace Brandywine.

UK - Premier Foods is the latest company to be linked with a big-money longevity swap deal as it seeks to offload £2bn (US$3.1bn) of longevity risk from its Rank Hovis McDougall pension scheme.

UK - Towers Watson has expanded its sustainable investment team with a senior hire from Mercer.

US - US regulators seem to have softened their stance on placement agents who are hired by investment managers to win contracts from public pension funds.

US - State Street Corp. has reached a settlement with the SEC and Massachusetts authorities that results in the firm ultimately paying US$663m to investors who lost money in active fixed income strategies run by State Street Global Advisors.

UNITED ARAB EMIRATES/UK - Abu Dhabi's state investment authority has confirmed it has become a minority shareholder of Gatwick airport.

GLOBAL - The volume of securities lending activity fell in 2009, but the fees raked in for the securities being lent increased over the past year as borrowers focused on hard-to-borrow securities, Data Explorers Consulting found.

CANADA - The Canada Pension Plan Investment Board has poured C$400m (US$375m) into a private equity fund of funds that will invest in Canadian small-mid sized companies.

US - Treasury Secretary Timothy Geithner showed support for pension funding relief at a House Ways and Means Committee hearing yesterday. The news comes as Mercer reports a 400% increase in company contributions for 2010.