Global

The British Venture Capital Association (BVCA) has begun to accept pension funds, insurance companies and fund managers who invest in the venture capital and private equity market as its members.

The US federal government retirement plan's common stock investment fund returns have dropped 8.19% in the last 12 months.

New York's $127bn (£86.7bn) State Common Retirement Fund has taken out a $32m (£21.8m) commercial mortgage to develop industrial real estate in southern California.

One in four small employers in the UK are still unaware of their obligations on stakeholder pensions, a new survey revealed.

Old Mutual Asset Managers (OMAM), the asset management arm of South African life assurance and financial services group Old Mutual, has appointed David Varley as an assistant fund manager in the global markets team.

The Edinburgh office of US fund manager Franklin Templeton Investments has appointed Aegon Asset Management's Christine Montgomery as vice president.

The UK's Derbyshire County Council pension fund has replaced Phillips & Drew and appointed Wellington Management International to manage its £22m US equity mandate.

The Cumbria County Council pension fund in the UK has put 90% of its £757m fund out to tender.

Ohio's Police and Fire Pension Fund replaced Nicholas-Applegate with Fidelity Management Trust to run a $150m active US small/mid cap equity brief.

Idaho's Public Employee Retirement System Board has selected eight fund managers for its new defined contribution unbundled 401(K) plan.