Investment

ROMANIA - Romania's mandatory pension system returned 17.7% in 2009 while the voluntary system boasted returns of 15.9%, figures by the Romanian Pension Fund Association (APAPR) showed.

US - TCW Group announced it has withdrawn from the government's programme to invest in toxic bank assets following a staff exodus at the bond asset manager.

American asset manager Neuberger Berman has replaced its defined contribution scheme for UK employees with a new group stakeholder arrangement.

UK/US - American asset manager Neuberger Berman has replaced its defined contribution scheme for UK employees with a new group stakeholder arrangement.

The London Borough of Newham Superannuation Fund has appointed Barnett Waddingham to provide it with actuarial and investment strategy consulting services.

A department for work and pensions research report on the likely responses of small employers to personal accounts is not "happy reading", a lawyer warns.

Enrich has launched a pensions service to provide employers with strategic direction for the review, implementation and management of their pension plan.

US - The recovery in equity markets last year helped to improve the funded status of US pension funds, adding an estimated US$180bn to balance sheets, according to a leading pensions' consultancy.

US/UK - PIMCO is reducing its holdings of UK and US government bonds because of fears over increased borrowing and the withdrawal of quantitative easing programmes.

PIMCO is reducing its holdings of UK and US government bonds because of fears over increased borrowing and the withdrawal of quantitative easing programmes.