Global

GLOBAL - The OECD has said that companies should create separate legal entities for their pension funds to ensure that if a company goes bankrupt, retirement income of its employees remains safe.

GLOBAL - State Street Global Advisors (SSgA) has launched a new strategic asset allocation product for defined benefit plans.

GLOBAL - The United Nations has said that it will work with major institutional investors to develop a set of globally recognized principles for responsible investment by September 2005.

GLOBAL - Allianz, the German insurance giant, said that it will sell its Mexican annuities company to HSBC for US$29m.

GLOBAL - Despite the rebound in the private equity markets, investors are "cautiously optimistic" about their investments and are returning to more realistic valuations and performance expectations, says Mercer.

GLOBAL - State Street Corporation has appointed Ronald Logue as chairman and CEO, following the retirement of David Spina.

GLOBAL - Marsh & McLennan Companies (MMC) today said that it will merge the defined contribution administration business of Putnam Investments with Mercer HR Outsourcing to create a new full-service global human resources outsourcing firm.

UK - Pan-European hedge fund legislation will enable defined contribution scheme members to invest in the asset class within two years, Aon Consulting claims.

EUROPE - Southern Europe, Austria and the Czech Republic face the greatest threat from population ageing and far-reaching reforms are required across the region to avert the threat of economic decline, according to new research.

Baring Asset Management (BAM) has recently won two new fixed income mandates and one new emerging markets equity mandate worth a total of £97m. Endurance Worldwide Insurance has awarded BAM a short dated bond mandate with the twin aims of capital preservation...