Global

American investors who claim that they want control of their pension plan investments to secure their retirement do not know what they are doing, according to Putnam Investments.

North Carolina's state employee's have failed in their legal attempt to stop the state's Governor Mike Easley from using $151m of state pension fund contributions to partially plug an $850m gap in the state's budget.

Tim Callaghan has left Morley Fund Management to join Gartmore Investment Management.

William M Mercer has ended a bad week on a positive note in the UK pension fund industry by being appointed actuarial consultant for the London Borough of Islington Pension Fund.

The £575m Cardiff County Council Pension Fund has dropped Watson Wyatt and appointed Bacon & Woodrow as its actuarial consultants.

The $6.2bn Los Angeles Water and Power Employees Retirement Plan (WPERP) will appoint a new investment consultant by the end of June.

Jonathan Bolton has been appointed as a director and international equity portfolio manager at Dresdner RCM Global Investors.

AT&T shareholders have overwhelming approved changes to the corporation's charter, which until last month was at the centre of a lawsuit involving three pension funds.

The Canada Pension Plan Investment Board (CPP) lost C$852m (US$549m) in the last financial year, according to the Board's unaudited results up to March 31, 2001.

The £16bn Post Office pension fund in the UK has expanded its allocation to private equity by awarding £450m in new mandates.