Investment

UK - Standard Life has been fined £2.45m (US$4.1m) by the Financial Services Authority for serious failures relating to its Pension Sterling Fund.

AUSTRALIA - The median Australian superannuation fund finished the year with a 15.1% return, but has yet to recover from the losses suffered during the global financial crisis.

UK - UBS Investment Bank is to enter the longevity swap market following the hire of a four-strong pensions team, sources said.

UBS Investment Bank is to enter the longevity swap market following the hire of a four-strong pensions team, PP has learned.

Hermes Equity Ownership Services has established a private equity service with the hire of Tom Rotherham as associate director for private equity.

Defined contribution default investment strategies are a "cop out" by trustees, an independent trustee firm says.

The Pensions Regulator has urged scheme trustees to review their securities lending practices.

UK - The Pensions Regulator has urged scheme trustees to review their securities lending practices.

The Financial Reporting Council has begun consultation on a stewardship code setting out good practice for institutional investors when engaging with UK listed companies.

NORWAY - Officials at Norges Bank Investment Management (NBIM), manager for the Government Pension Fund Global, have written to the Ministry of Finance to defend its use of active management, as the future use of the investment strategy comes under question....