North America

UK/US - American asset manager Neuberger Berman has replaced its defined contribution scheme for UK employees with a new group stakeholder arrangement.

US - The recovery in equity markets last year helped to improve the funded status of US pension funds, adding an estimated US$180bn to balance sheets, according to a leading pensions' consultancy.

US/UK - PIMCO is reducing its holdings of UK and US government bonds because of fears over increased borrowing and the withdrawal of quantitative easing programmes.

US - Goldman Sachs Asset Management said it would not raise the base fee on its Global Tactical Asset Allocation fund back to its original level until the start of next year.

As the year comes to a close, GP is taking a look back at the 10 most read features of 2009.

US - Morgan Stanley has hired former Merrill Lynch veteran Gregory Fleming as president of its investment management unit.

AUSTRALIA - Officials at the Australian Future Fund are in preliminary discussions with two Canadian pension plans about partnering up to acquire Australia's largest toll-road provider Transurban Group.

GLOBAL - The majority of institutional investors around the world will not renew commitments to existing private equity managers in 2010, a survey by Coller Capital revealed.

CANADA - Railroad operator Canadian Pacific Railway plans to make a voluntary contribution of C$500m (US$477.34m) to its defined benefit plan, the firm said.

CANADA - Caisse de dépôt et placement du Québec has completed a US$5bn debt offering in what it called the largest non-government guaranteed offering by a Canadian issuer in US dollars.