Investment

Legal & General has cut its final dividend by 50% to 2.05p per share, after it reported a operating loss of £189m.

US - Retirement security could be reduced by last minute regulation from the Bush administration, witnesses at a House of Representatives subcommittee hearing claimed.

People who have registered for enhanced protection could find it invalidated by 2012 auto-enrolment regulations and face "penal" charges, First Actuarial says.

Mellon Transition Management (MTM) has appointed Tim Wilkinson and his team of transition management professionals in a major expansion of its business.

Aon Consulting and Russell Investments have teamed up to launch a product to manage both the assets and liabilities of pension funds.

The £1bn Somerset County Council pension fund has allocated £30m to emerging markets.

Balanced pooled funds achieved a median return of -5.7% in February 2009, latest CAPS pooled pension fund performance results from BNY Mellon Asset Servicing reveal.

GERMANY - Deutsche Börse has released a new index family based on the government bond market, comprising six Eurogov indices.

Friends Provident has implemented an industry-wide open market option system in a bid to speed up the payment of transfers to annuity providers.

Setting up an effective default fund investment strategy will be a crucial step in ensuring auto-enrolment works for everyone, the Investment Management Association says.