Global

GLOBAL - Defined contribution members risk dramatic fluctuations in retirement income unless they adopt default strategies that reduce the impact of market shocks, the global body warned.

GLOBAL - Embattled BP chief executive Tony Hayward has reassured pension schemes the firm's obligations will be met despite spiralling costs following the Gulf of Mexico oil spill disaster.

GLOBAL/UK - Emerging market debt fundamentals are attractive for pension funds seeking portfolio growth and diversification, J.P. Morgan Asset Management said.

GLOBAL - The financial crisis remains a threat to global stability despite the intervention by Euro policymakers, Towers Watson said.

ASIA - Asian funds at Newton Investment Management are among the beneficiaries of actions being taken by three of Asia's largest sovereign wealth funds.

GLOBAL - Hedge fund practitioners have criticised research from the European School of Management & Technology that has voiced "serious concerns" about the risks their sector poses its investors.

GLOBAL - Pension funds should base their investment decisions on scenario planning given current market uncertainty, but this is prevented by the fact the pension industry is massively incentivised to herding, Ashmore head of research Jerome Booth said....

GLOBAL - The current refinancing gap for middle market companies created by banks' unwillingness to lend is providing mezzanine debt investment opportunities for schemes, Mercer said.

UK - Hedging currency exposures can have as large an impact on the wealth of a portfolio as return-generating strategies, delegates at the Global Pensions Currency Management Forum in London heard.

GLOBAL - Private equity funds managed to post positive returns of 15% for 2009 despite a slow start to the year, data from State Street revealed.