UK - Rising longevity has been causing headaches for large companies with defined benefits (DB) pension plans, according to a survey by Watson Wyatt.

THE John Lewis Partnership Pension Trust has selected Schroders to manage a £150m global equity mandate.

US - The California Public Employees' Retirement System (CalPERS) have planned to pay fund managers on a performance only basis because of underperformance in a move that could potentially shake up the industry.

BARING Asset Management has launched its fifth long/short equity hedge fund.

AUSTRALIA - State Street has been awarded a mandate to provide custody and administration services for Australia's AUS$3bn (US$2.6bn) Non-Government Schools Superannuation Fund (NGS Super).

UK - John Lewis Partnership Pension Trust Limited has awarded a £150m global equities mandate to Schroders' Global Active Value fund.

AUSTRALIA - An Australian economic think-tank has called for the pension age to be gradually raised from 65 to 67.

INCLUDING: UK - Punter Southall promotes research; UK - NAPF launches new specialist service; UK - LCP partner promotions; LUXEMBOURG - HSBC launches climate change fund; UK - Ashmore launches new asset class; UK - JPMorgan in 130/30 for four; HOLLAND...

Standard Life seeks talks; BlueBay beats squeeze with new money; Fund manager attacks HSBC; AbCap hedge fund faces suit

US - The Teachers' Retirement System of the State of Illinois (TRS) earned a bumper 19.6% on its investments during the fiscal year ended 30 June 2007.