Investment

US - The State of New Jersey has settled charges by the Securities and Exchange Commission that it fraudulently misled municipal-bond investors while underfunding the state's two biggest pension plans.

The Pensions Regulator is taking an aggressive and threatening stance with trustees who have not performed a formal covenant review, a lawyer says.

UK - The Pensions Regulator is taking an aggressive and threatening stance with trustees who have not performed a formal covenant review, a lawyer says.

Pension schemes are being more active in their implementation of liability-driven investment strategies, fund managers claim.

The Pensions Regulator recently issued its covenant assessment guidance. Laura Blows looks at why this advice was necessary, its key points and how it may evolve

The British Airways Pension Fund has made a fresh allocation to City of London real estate as it believes the sector is well positioned in the current cycle.

The Society of Pension Consultants has launched a whitepaper to assist sponsors in the design of defined contribution schemes.

US - The California State Teachers' Retirement System (CalSTRS) has appointed John Petzold as its first director of investment management/deputy chief investment officer.

UK - Abolishing contracting out for final salary schemes could eventually lead to a higher universal state pension, an analyst says.

Defined contribution scheme members are overly optimistic about reaching their retirement targets, Towers Watson research shows.