Hedge funds move $600bn into safer assets; Financial Services Authority threatens heavy fines for short-sellers; Rejected: Queen's plea for more cash; EDF agrees takeover of British Energy

The first ever financial support direction imposed on Sea Containers by The Pensions Regulator has been supported by the US Bankruptcy Court.

More than a third of trustees expect their scheme will be bought out within the next 10 years, an exclusive Hymans Robertson poll reveals.

LOCAL authorities are hiring independent firms to monitor and hire fund managers in a bid to improve governance procedures, Inalytics says.

US - More than 80 taxpayer funded pensions have unfunded liabilities that exceed US$20bn and pose another financial threat to public employees and taxpayers, according to the Texas Pension Review Board.

US/UK - The US Bankruptcy Court has rejected objections to an agreement which gave the pension schemes of Sea Containers Limited (SCL) status as substantial creditors.

US - A year of financial instability culminating in last week's turmoil has hit pension funds on a global scale but New Jersey claims to have bucked the trend through sound investments and its pension fund structure.

UK - Local authorities are hiring independent firms to monitor and hire fund managers in a bid to improve governance procedures, Inalytics says.

INCLUDING: CHINA - Pension fund overseas investments hits $2bn mark; UK - Schroders sends pensions administration to Aon; AUSTRALIA - Millennium Global Investments wins active currency overlay mandate; UK - New head of strategy at CAAM; UK - Mercer wins...

AUSTRALIA - Legislation has been introduced to the House of Representatives to deal with the lost superannuation of temporary residents.