Asia

SOUTH KOREA - The government wants to force new job seekers to work five years longer before they can retire as part of a new policy package.

JAPAN - Japanese institutional investors' allocation to private equity is set to triple within the next two to five years, Swiss private equity manager Adveqa has claimed.

DUBAI - MSCI Barra has opened a sales office in Dubai to cover the Middle East region.

INDIA - The UTI Mutual Fund claims it is to manage a "majority share" of the new R15bn (US$340m) pension scheme for government employees.

INDIA - Four fund managers are to be appointed within the next three months to manage the R15bn (US$340m) collected under the new pension scheme (NPS), the Indian pensions regulator has announced.

ASIA - BNP Paribas Asset Management is looking to set up partnerships in Vietnam in an effort to expand its emerging market offering to institutional investors.

INDIA - India's expenditure on civil service pension schemes risks spiralling out of control, according to the World Bank.

PAKISTAN - Watson Wyatt has extended its reach in Asia by teaming up with Pakistani firm Sidat Hyder.

PAKISTAN - The Securities and Exchange Commission of Pakistan (SECP) has launched a Voluntary Pension System (VPS) and issued certificates of registration that allow four asset management companies to act as pension fund managers.

SOUTH KOREA - Mellon Global Investments has opened a representative office in South Korea to develop its asset management capabilities in the region.