Global

Britain's Occupational Pensions Regulatory Authority has updated its guide for pension scheme trustees and will send copies to the trustees of every occupational pension scheme in the UK in June.

Sweden's Seventh National Pension Fund, AP7, is considering investing between SEK750m (EUR83m) and SEK1.5bn in private equity and hedge funds.

The Association of British Insurers (ABI) has issued a blow to Paul Myners' report on UK institutional investment by urging the government to rethink proposals to end broking commissions.

Ohio's $650m (£458.5m) State Highway Patrol Retirement System (HPRS) might issue new mandates later this year after an asset allocation study.

The Carlyle Group, of which giant US pension fund CalPERS is a shareholder, has appointed former British Prime Minister John Major as chairman of its European operations.

More UK local authority pension funds are reassessing benchmarks and consultancy services as well as looking to equities for better returns as a result of best value reviews.

Fund management groups are strongly disapproving of analyst involvement in investment banking, according to the 2001 Reuters Survey of European Smaller Companies for investment research, sales and trading and investment banking.

Prudential has dropped its lawsuit against American International Group (AIG) and has pocketed a $600m (£423m) termination fee as the result of its failed bid to take over American General.

The $12bn Los Angeles Department of Fire and Police Pensions is to put a $80m-$100m US high yield bond mandate out to tender.

The amount of assets invested in occupational pension plans in Europe has grown by 5.4% over the year to June 2000, according to a study by consultants William M Mercer.