Global

Paul Myners defended his review from a barrage of criticism from fund managers and investment consultants at a seminar held last week by the Pension and Investment Research Consultants.

In a move similar to Ireland's National Pensions Reserve Fund (NPRF), the French government is creating a FFR50bn (EUR7.6bn) reserve fund - all of which will be outsourced at the end of the year.

Pension schemes should learn to accept volatile returns from their assets, Gissings warns.

Merrill Lynch Investment Managers (MLIM) its to add Invesco as a guest manager for its stakeholder platform in the UK.

Escher UK Asset Management has appointed Aegon Asset Management as the active fixed interest manager to all its active corporate and conventional bond funds.

The UK government has taken steps to allay trustees' fears over complying to regulations within the Data Protection Act.

A new set of guidelines for UK pension fund trustees and fund managers has been launched offering advice on how to improve the impact of pension fund investment on some of the world's poorest countries.

Dublin-based occupational pension coordinator Euroben has appointed Kenth Eldebrink as managing director.

Recommendations in the Myners report may turn out to be "stepping stones on the path to compulsory asset allocation in the UK", according to UK consulting actuaries Lane Clark & Peacock (LCP).

Canada's biggest pension fund, the C$125bn (US$81bn) Caisse de dépôt et placement du Québec (CDP), has bought a 45% stake in New York property One Park Avenue for C$360m from SL Green Realty.