SHAREHOLDERS in the biopharmaceutical company Renovo have been advised to abstain from approving a remuneration report which it is claimed could lead to executives taking "risky decisions".

F&C ASSET Management has hired a hedge fund team from London & Capital to run a new fixed income fund for F&C Alternative Investments.

US - The city of El Paso has agreed to contribute US$210m to help fund the $350m shortfall in the Firemen and Policemen Pension Fund.

UK - The governance and safety record of BP is of far more concern than the excessive compensation paid to outgoing CEO John Browne, the London Pensions Fund Authority (LPFA) has claimed.

THE PENSIONS industry must tackle the risks inherent to defined contribution schemes, the Pensions Regulator warns.

AUSTRALIA - The ten million multiple superannuation accounts are resulting in a "deadweight cost" of A$315m a year for super funds, the Association of Superannuation Funds of Australia (ASFA) has found.

UK - Hymans Robertson has appointed SRI 'thought leader' Craig Mackenzie to act as a consultant on SRI and related corporate governance issues.

NEW ZEALAND - The NZ$11.9bn (US$8.1bn) New Zealand Superannuation Fund has defended its position as a responsible investor despite criticism over its investment in nuclear weapons manufacturers.

US/CANADA — The private investment arm of Ontario Teachers' Pension Plan (OTPP) and Ares Management are to acquire General Nutrition Centers (GNC) in a deal worth US$1.65bn.

US - The Indiana Public Eemployees' Retirement Fund (PERF) has set up an emerging managers programme to seek out investment opportunities with small Indiana firms owned by women and minorities.