Global

Royal Bank of Canada (RBC) is considering selling off its institutional pension management unit, RT Capital Management.

Interest in hedge funds is rapidly growing in France as investment firms and insurance companies ‘show a large appetite for alternative investments', according to a report released by a London based investment advisory firm, Asterias.

Somerfield stores pension scheme in the UK has appointed Baring Asset Management as manager of its £60m UK fixed income portfolio.

Devon County Council's £1.24bn UK pension fund has put two global balanced mandates, both worth approximately £160m each, out to tender.

Hampshire County Council's Pension Fund is to put its £96m property mandate out to tender.

The £630m Falkirk pension scheme has dropped investment managers Phillips & Drew from its portfolio.

Watson Wyatt is considering making an appeal against a court decision ordering it to pay the US based Connecticut Carpenters Pension Fund $40m in damages as a result of a malpractice lawsuit.

Legal & General has appointed four external managers, Deutsche Asset Management Life & Pensions, JP Morgan Life Assurance, Newton Fund Managers and SG Asset Management, as external managers for its stakeholder product.

The Northern Ireland Assembly pension scheme - established by former-Northern Ireland secretary Peter Mandelson last May - has picked Royal London Asset Management to run the £3m fund as an active balanced portfolio.

Aon, the UK consultancy, has secured a full service administration, actuarial and benefits consultancy appointment from the building support services company, MITIE Group.