Global

GLOBAL - A large majority of the world's biggest pension funds are concerned that private equity funds are facing capacity constraints, according to exclusive research by Global Pensions.

EUROPE - The EU Commission is taking action against the Czech Republic, Hungary and Poland over incorrect implementation of the Institutions for Occupational Retirement Provisions (IORPs) directive, while legal action against three countries for failure...

GLOBAL - The current environment of lower expected returns will see managers having difficulty justifying above average fees going forward, a Mercer Investment Consulting study on investment management fees has revealed.

GLOBAL - A historic agreement drafted between 19 countries, including Spain, Portugal and much of Latin America, would allow migrant workers access to "trans-border" state pensions.

GLOBAL - Funded ratios of defined benefits plans in major global markets have fallen over the third quarter of 2006 with Canada faring the worst with a slide of 4 percentage points, a Towers Perrin market update showed.

GLOBAL - The Mercer Sentinel Group of Mercer Investment Consulting has launched a new transition consulting business with "global transition manager research capability".

GLOBAL - Fortis Investment Management and Cadogan Management have combined their respective fund of hedge funds (FOHF) activities to create a US$3.7bn stand-alone asset management company, with Fortis the majority shareholder on 70%.

US - State Street has called for enhanced disclosure in transition management as the boundaries between business models become increasingly blurred.

GLOBAL - Watson Wyatt Investment Consulting revenues grew 36% in its first quarter financial results compared to the same time period last year.

KYRGYZ - The Asian republic of Kyrgyz will be drawing up a comprehensive reform of its pension system and increasing its pensions by 10% in 2007.