Investment

2009 seems to have been a long year in the world of pensions - and a year many will, no doubt, be glad is over.

PP 100 - More than seven tenths of pension managers believe scheme closure is not the best way to deal with increasing pension fund deficits.

UK - Aberdeen has acquired £13.5bn (US$21.6bn) of long-only multi-manager and fund of hedge fund assets from RBS Asset Management for £84.7m.

Aberdeen has acquired £13.5bn of long-only multi-manager and fund of hedge fund assets from RBS Asset Management for £84.7m.

National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

UK - National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

US -California governor Arnold Schwarzenegger equated the state's rising pension costs to a "locomotive" and pledged to make pension reform a priority in 2010 in his annual State of the State address yesterday.

GLOBAL - TCW's purchase of Metropolitan West Asset Management may be a predictor of things to come as independent firms will drive merger and acquisition activity in 2010, investment bank Jefferies said.

US - Denver-based asset manager Janus Capital Group has hired Richard Weil from rival PIMCO as its chief executive officer.

Denver-based asset manager Janus Capital Group has hired Richard Weil from rival Pimco as its chief executive officer.