UK - Schemes hedged liabilities of more than £11.4bn (US$18.6bn) during the third quarter of the year, analysis from F&C revealed.

US - The Illinois State Teachers Retirement System (TRS) plans to search for an absolute return consultant and large cap core managers.

NETHERLANDS - Royal Dutch Shell will contribute US$5bn to its pension funds in 2009, shaving up to $3bn from previous estimates.

DENMARK - Danish pension fund ATP has recouped most of its 2008 losses, but is freezing pensions at their 2009 levels next year.

US - Target date funds may suffer from conflicts of interest, excessive fees, and a lack of clarity about the composition of the funds, a Senate committee heard yesterday.

Pareto will be running a limited-attendance currency management seminar at the up-coming Professional Pensions Show in London.

UK - The increased deficit of the BAA defined benefit scheme has contributed to the airport operator's pre-tax losses of £784.7m (US$1.3bn), results showed.

US - Legislators have introduced a bill to provide funding relief of up to 15 years for single-employer pension funds and up to 30 years for multi-employer plans.

Kevin O'Neill and Samina Vernon have joined State Street Global Markets as vice-presidents in the transition management team, the firm said today.

CANADA - The Canadian government has proposed a package of pension reforms that will reduce volatility in defined benefit plan contributions and provide stricter standards for wound up schemes.