Global

GLOBAL - Asset management fees remained stable in 2008 but are likely to be under pressure in 2009, a report by Mercer says.

GLOBAL - A global alliance comprising 34 law firms from more than 21 countries has been formed in Madrid in reaction to the global fraud allegedly committed by Bernard Madoff.

GLOBAL - Aegon is set to scale back business at its institutional markets division based in Kentucky, in a quest to counter the effects of an expected net loss for the fourth quarter of 2008 of €1.2bn (US$1.5bn).

GLOBAL - Significant losses experienced by pension funds have resulted in funding deficiencies so large that many companies will not be in a position to make the required pension contributions, a survey by SEI claims.

GLOBAL - Multinational organisations are moving towards a more global approach over funding decisions, risk assessment and managing their retirement plans, a survey by Mercer says.

GLOBAL - Private pension schemes lost an estimated US$5.4trn in 2008, prompting fears over the sustainability of retirement plans, according to a report by the Organisation for Economic Co-operation and Development (OECD).

GLOBAL - Fund managers have sharply conflicting views on how the current downturn will play out, Hewitt Associates says.

GLOBAL - More investors than ever before consider corporate policies on climate change when making investment decisions, the Carbon Disclosure Project (CDP) has said.

GLOBAL - The US Private Equity Council has launched a set of comprehensive responsible investment guidelines its members will apply prior to investing in companies and during their period of ownership.

GLOBAL - Barclays Global Investors profit before tax decreased 19% in 2008, to £595m (US$888m) from £734m posted in 2007.