Investment

UK - A group of disgruntled pension funds is threatening litigation against investment giant Henderson after one of its funds lost more than 60% of its value during the credit crunch.

AllianceBernstein has hired Tim Banks to expand its defined contribution capabilities in the UK.

A group of disgruntled pension funds is threatening litigation against investment giant Henderson after one of its funds lost more than 60% of its value during the credit crunch.

Schemes could "considerably" reduce longevity basis risk by utilising index-based longevity hedges, academics say.

The Organisation for Economic Co-Operation and Development has encouraged the International Accounting Standards Board to review the definition of DB and DC plans as they relate to international accounting standards.

City Financial has launched an Asia fund of hedge funds aimed at pension funds and other institutional investors.

GLOBAL - Investors in struggling money market funds are less likely to receive financial support from fund sponsors post-crisis, research from Moody's warns.

SOUTH AFRICA - SEI Investments (South Africa) has hired Giles Mokoka as managing director in Johannesburg.

AUSTRALIA - Government superannuation plan the Future Fund has invested €450m ($579m) in UK leveraged finance provider Haymarket Financial (HayFin) ahead of the launch of the firm's new asset management business.

The complex web of regulations governing the 2012 pension reform package poses a threat to businesses and the creation of new jobs, the British Chambers of Commerce warns.