Investment

US/UK - BNY Mellon Asset Management co-head and vice chairman Jon Little will leave the firm to join hedge fund Kedge Capital, a London-based alternatives firm.

Treasury plans to curb the annual allowance to about £40,000 rather than slash tax relief for high earners have been backed by the industry.

Scottish Life, the pensions division of Royal London, has seen new business increase by 62% to £1.1bn in the six months ending June 30.

The independent panel of experts tasked with assessing the viability of auto-enrolment and NEST has finished a run of seminars with stakeholders.

SWITZERLAND/US - Credit Suisse Group AG has won the dismissal of damage claims by a US pension fund that bought Credit Suisse Global shares on the Swiss Stock Exchange.

US - Legg Mason's assets under management fell 6% over the quarter due to tough market conditions and ongoing redemptions, latest figures reveal.

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.

Sponsors and trustees are struggling to develop strategies for managing longevity risk, MetLife Assurance says.