Global

Allied Dunbar, a Zurich Financial Services Group subsidiary, is to launch its group stakeholder pension scheme by October 2001.

BISYS has purchased Universal Pensions, an American retirement plan services provider, in an $85m all cash deal.

London-based Avebury Asset Management has appointed Michael Smith as a vice president and portfolio manager.

Switzerland's Versicherungskasse der Stadt Zurich (Zurich civic pension fund) is to increase its non Swiss equities brief as part of a review of the entire CHF12bn (US$6.7bn) fund.

Towers Perrin's investment consulting head John Conroy has left the company to join investment manager Gensec, with effect from July, 2001.

The UK's Association of Consulting Actuaries (ACA) has slammed all three main political parties' pensions manifestos, expressing "disappointment" at how little is being said in the UK election about boosting pension provision.

The $1.8bn New York City Board of Education Retirement System has extended its search for a new investment consultant.

International fund managers could be the big winners from the New Zealand government's decision to open up the NZ$3.5bn (US$1.44bn) Government Superannuation Fund to global share markets.

Ireland's investment performance standards have become the first set of guidelines to be accepted as a country version of the Global Performance Investment Standards (GIPS).

Indiana's $6bn State Teachers' Retirement Fund has appointed Holt-Smith and Yates to run a $25m active US large cap growth equities mandate.