North America

Helen Morrissey speaks to Jim Leech, chief executive officer of the Ontario Teachers' Pension Plan about changes in asset allocation and how the fund is preparing for the future

CANADA - The Canadian government has proposed a package of pension reforms that will reduce volatility in defined benefit plan contributions and provide stricter standards for wound up schemes.

CANADA ­- Canadian pension fund returns have surged following a strong performance in the third quarter.

US - Morgan Stanley will sell its retail business, including Van Kampen Investments, to Invesco for $1.5bn as the firm increases its focus on the institutional market.

US - Trustees of the Colorado Public Employees Retirement Association (PERA) have proposed increasing employee and employer contribution rates in order to bring the scheme back up to full funding.

US - Asset managers can expect slimmer bonuses this year as firms continue to struggle from the downturn, according to a new report by recruitment firm Russell Reynolds Associates.

US/UK - A US buyout market to rival the UK's is not likely in the short term because of competing mindsets among the countries' policy makers about the future of defined benefit systems - US officials still have faith.

CANADA - The Canadian Union of Public Employees (CUPE) said it will lobby for an overhaul of the Canadian pension system, calling for mandatory pension participation, a national system of pension insurance, and expanding the mandate of the Canada Pension...

US - New York state comptroller Thomas DiNapoli will have some company as he leads the state's US$116bn pension fund if a new legislation calling for the abolition of the single-trustee model is passed.

CANADA - The Canada Pension Plan Investment Board has partnered with Sterling Partners to acquire the Livingston International Income Fund for C$8 (US$7.65) per unit, Livingston said.