Investment

The Nationwide Building Society has revealed a net £508m IAS19 pension deficit, a £177m increase over the year.

A batch of 40-year inflation-linked gilts - being sold by the Debt Management Office this week - has been branded as "expensive" by a consultant.

UBS has launched its Diversified Return Fund which aims to produce equity-like returns from a multi asset portfolio but for defined benefit schemes which do not have the risk appetite for full equity-like volatility.

The European rescue package has provided long-term investors with the opportunity to sell their sovereign debt holdings, PIMCO says.

Updated 10.52am: The FTSE is falling in mid-morning trade after Chancellor George Osborne unveiled details of the coalition government's £6.2bn spending cuts.

CHINA - China's national pension fund invested more than 15 billion yuan ($2.2 billion) to become Agricultural Bank of China's third-largest holder, paving the way for what may be the world's biggest initial public offering.

CANADA - The Canada Pension Plan has returned 14.9% for the year ending March 31 on the back of strong debt and equities gains.

The FTSE 100 fell below 5,000 in midday trade Friday as fears about the sovereign debt crisis and stricter financial regulations persist.

Defined contribution schemes across the world are more robust following the financial crisis but need further refining to best meet members' needs, Towers Watson says.

GLOBAL - Defined contribution schemes across the world are more robust following the financial crisis but need further refining to best meet members' needs, Towers Watson said.