SCHEMES are poised to invest millions in real estate investment trusts in a bid to diversify their property holdings, Fidelity International says.

GLOBAL - The Mercer Sentinel Group of Mercer Investment Consulting has launched a new transition consulting business with "global transition manager research capability".

UK - Independent broadcast company ITV is to close its final salary pension scheme to existing members in a bid to lighten the pressure of its £325m pension deficit, media reports have claimed.

MERCER Investment Consulting has launched a new transition management consulting and research service.

US - The California Public Employees' Retirement System (CalPERS) board has earmarked $500m for investments in commodities and announced it was considering creating a new natural resources/commodities asset class within the fund.

GLOBAL - European pension fund giants AP7, ABP and PKA have joined the Mississippi Public Employees' Retirement System (MPERS) in the US in suing Dell over alleged accounting fraud.

UK - Schroders Asset Management reported third quarter profits of £48.3m, up slightly on the £46.1m achieved over the same period last year.

FRANCE/CANADA - The Caisse de dépôt et placement du Quebec (Caisse) and AXA Private Equity (AXA) have bought a majority stake in French rail and bus transport operator Keolis SA, in a deal worth €300m.

UK - US$15bn fund of hedge funds Blackstone Alternative Asset Management (BAAM) has appointed Gideon Berger to head up its London office and oversee the firm's interests in Europe, the Middle East and the Pacific Rim.

IRELAND - The Bank of Ireland will meet with workers union Amicus at the labour relations commission in a bid to avert tomorrow's planned strike over changes to its pension fund.