KOREA - Institutional investors with a combined US$2.5trn in assets under management have written Korea's Ministry of Justice asking it to refrain from introducing anti-takeover measures known as poison pills into its Commercial Code.

SWEDEN - Swedish buffer fund AP1 has hired 12 small-cap equity managers, confirmed Peder Tiricke, senior portfolio manager in charge of external managers.

US - The Teachers Retirement System of Texas' (TRS) strategic partnership programme, which allows managers to provide proprietary research to the scheme alongside running broad asset management mandates, has returned 7.3% since its implementation a year...

UK - The Cadbury Pension Fund has sought to boost its value to shareholders by completing a £500m (US$815m) buy-in insurance contract with Pension Insurance Corporation.

US - A pension fund is suing Goldman Sachs alleging officials and the board breached their fiduciary duties by allowing an expected US$22bn in 2009 bonuses.

US - Former TCW chief investment officer Jeffrey Gundlach has lured more than 30 members of his old fixed income team to his new firm DoubleLine.

US - Total assets at the California Public Employees' Retirement System returned to US$200bn yesterday, a $40bn increase from its March lows, the pension fund said.

AUSTRALIA - The first phase of the comprehensive review into Australia's superannuation system has steered clear of dictating investment practices, but argued that governance at super funds should be equivalent to practices at listed governance.

US - Morgan Stanley has hired former Merrill Lynch veteran Gregory Fleming as president of its investment management unit.

EUROPE/CENTRAL ASIA - Pension funds in Europe and Central Asia should provide pension increases in line with cost of living indexes instead of wages to make the systems more sustainable, the World Bank said.