Asia

JAPAN - Citigroup has formed a new custody and administration joint venture with Nikko Securities, after acquiring a 50% stake in the Nikko subsidiary, Nikko Trust and Banking.

SINGAPORE - The CPF's decision to freeze employer pension contributions will help companies get through the current downturn in the economy and help them to reduce retrenchment of labour, according to consultants William M Mercer.

JAPAN - The fortunes of pension schemes' Japanese equity investments may be reversed by small gains in the long term growth rate, according to Threadneedle Investments.

THAILAND - The Government Pension Fund in Thailand has appointed veteran businessman Visit Tantisunthorn as its secretary-general.

Japanese defined contribution (DC) plans will fail to create a gold mine of opportunity for foreign fund managers that have their hearts set on the country's asset management industry, according to consultants Cerulli Associates (CA).