Global

The $120bn New York State Common Retirement Fund (CRF) has increased its US small cap growth equity allocation and appointed Brown Capital Management for a $150m mandate.

Defined benefit schemes in the UK are near to extinction as pension funds review their commitment to final salary schemes, according to leading actuarial consultants.

Baltimore's $2bn Fire and Police Employees' Retirement System (FPERS) will begin a search for a new investment consultant in June.

Three UK staff pension schemes within the Zurich Financial Services Group are to merge in a cost-savings exercise. They will form the £2.25bn Zurich Financial Services UK Pension Scheme.

Listed companies promoting their environmental and social policies are selling themselves short by failing to state their case to the City, according to new UK research.

The £972m UK-based Surrey County Council pension fund is looking to have a new additional voluntary contribution (AVC) provider in place by September.

It is impossible to fund a pension scheme on a long-term equity basis and, at the same time, provide member security for when the scheme is wound up, according to Stuart Benson, a European partner at William M Mercer.

Baring Asset Management has launched a new range of unit-linked life funds to complement its existing OEIC range for institutional investors.

William M Mercer has suffered its third pension fund loss in the past week when it was dropped as administrator for the UK-based Alfred McAlpine Pension Plan.

The Association of British Insurers has expanded its life and pensions unit with the appointment of Joanne Segars to the newly created position of head of pensions.