Regions

Global firm State Street has been dropped from a $2bn custody mandate at the US Baltimore County Employees' Retirement System in favour of rivals Mellon Trust Global Securities Services.

Legal & General Investment Management's total funds under management has topped £6bn for the first time, end of first half year figures for the firm reveal.

The final nail has been hammered into the coffin of the UK's £2.5bn Marconi pension scheme in-house fund management team with the appointment of Merrill Lynch Investment Managers to manage its £800m UK equity portfolio.

Pension funds with their own scheme specific benchmarks have for the first time outnumbered those following the UK's CAPS benchmark.

Global firm Mellon Financial Corporation has completed its acquisition of US asset manager Standish, Ayer & Wood.

The UK Law Commission's review of the issue of pension scheme surplus will cause damage and uncertainty to pension schemes, according to industry experts.

Morley Fund Management has poached high yield bond manager Andre Mazzella from Abbey National Treasury Services.

An earlier than expected US recovery this year looks set to lead to knock on growth in world markets, predict fund managers.

Junior doctors in the UK are to receive a significant boost to their pensions as a result of an agreement negotiated by the British Medical Association (BMA).

Philippines' Social Security System (SSS) has been enhanced with the launch of a voluntary provident fund for overseas Filipino workers (OFW).