Global

GLOBAL - WestLB Mellon Asset Management, the new name for the 50/50 joint venture to be formed by WestLB AG and Mellon Financial Corporation, will be launched in Q1 2006 with approximately e40bn in AuM.

GUYANA - President Bharrat Jagdeo (pictured) has announced that pensioners are set to receive a 75% increase in their sums starting January 2006.

US. - The Public Trust an Accountability Act will prevent federal employees guilty of "white collar" offences claiming their pension benefits.

UK: The success of the UK's future pension policy will require a dramatic change in people's attitudes and behaviour towards saving, according to a research conducted by the National Centre for Social Research (NCSR)

GLOBAL -The burden of coping with globally mobile employees' pension benefits for multinational employers would be eased with the introduction of pan-european pensions according to Mercer's Peter Blake (pictured).

GLOBAL - Hedge funds returns gained 0.07% last month and a 2.01% year-to-date return as it moved once again into positive territory, according to the Standard & Poor's hedge Fund Index.

GLOBAL - Mercer Human Resource Consulting has appointed Phil de Cristo (pictured) to the newly created role of president of its US$8.5bn multimanager business, Mercer Global Investments (MGI).

MALI - The African country of Mali will increase its social security budget by 2% in line with a higher number of pensioners receiving benefits.

EUROPE - Complaints have been lodged with the European Commission against 18 EU member states by PricewaterhouseCoopers and the European Federation for Retirement Provision over unfair taxation of pension funds.

GLOBAL - Thomas Loeb, co-founder of Mellon Capital Management, is to step down from his position as CEO in 2006, Global Pensions can exclusively reveal.