Investment

NEW ZEALAND - The New Zealand Superannuation fund was up 15.45% in the year ended June 30, the second best yearly performance since its inception in 2003.

AUSTRALIA - Australian energy superannuation funds ESI Super and SPEC Super have agreed to a merger deal that will create a new A$3.4bn (US$3.1bn) fund.

The shape of changes to the pension taxation system should be confirmed by the end of September, a Treasury consultation paper says.

UK/GLOBAL - Aberdeen Asset Management clinched £300m (US$465m) of net new business in the quarter from its global clients and said redemptions have slowed, but total assets under management dropped 3.6%.

Balanced pooled funds ended their run of positive quarters with a negative return of -8.9% for Q2 of this year, statistics show.

UK - Balanced pooled funds ended their run of positive quarters with a negative return of -8.9% for Q2 of this year, statistics revealed.

Corporate pension funds in the UK and overseas are continuing to move towards liability driven investment strategies, the Investment Management Association says.

GLOBAL - Corporate pension funds are continuing to move towards liability driven investment strategies, the Investment Management Association said.

US/UK - PIMCO hired six new investment professionals for its expanding equity team, including the former head of Goldman Sachs Asset Management's emerging markets equity strategy.

UK - The Universities Superannuation Scheme board of trustees has approved employers' proposals for fundamental reform of its benefit structure.