Global

Investing in new tech companies is a high risk "loser's game" that only specialists can gain from, says Scottish Widows Investment Partnership (SWIP) chief investment officer Sandy Nairn.

Invesco Pensions in the UK has appointed Terry O'Malley and Rick White to its executive board. They join David Butcher, chief executive of Invesco Pensions.

Invesco Pensions has appointed John Griffiths as business development manager and Mark McDonnell as head of client services.

The $20.6bn Missouri Public Schools Retirement System (PSRS) is conducting an asset allocation study and may put mandates out for tender, according to Craig Husting, the fund's chief investment officer.

Andrew Christie has joined global actuaries Watson Wyatt as a senior human capital consultant to oversee the development of the firm's Remuneration Committee Report.

America's Securities and Exchange Commission (SEC) has warned public pension funds that the increased use of hedge funds are a potential risk to their retirement funds.

Aegon Asset Management has clinched its first ever local authority mandate.

UK's Investment Management Regulatory Organisation (IMRO) has fined Dresdner RCM Global Investors £90,000, plus an extra £68,992 costs to go to the regulator.

Quebec's giant pension fund, the C$125bn (US$82bn) Caisse de dépôt et placement du Québec (CDP), has made a C$15m (US$9.77m) investment in Proxima Systems, a customer care and billing software provider for the telecommunications industry.

Bear Stearns Asset Management - the investment arm of Bear Stearns Company - has appointed John Coyle as managing director and portfolio manager.