Regions

Quebec's giant pension fund, the US$81bn (C$125bn) Caisse de dépôt et placement du Québec (CDP), has made a US$2.5m venture capital investment in Micro-Optics Design.

The UK's Association of Consulting Actuaries (ACA) has deemed Paul Myners' investment recommendations unsuitable for smaller pension schemes.

South African insurer Old Mutual has suffered a defeat in the Supreme Court of Appeal after the firm paid out R32m ($4m) worth of pension fund assets to the fund's parent company.

Frank Russell has launched a new multi-manager hedge fund, aimed at institutional and individual investors based outside the United States.

The $30bn Massachusetts Pensions Reserves Investment Management Board (PRIM) is conducting a search for high yield and timber investment managers.

Drivers Jonas, chartered surveyors, has been appointed by Scottish Widows Investment Partnership to value the Lloyds TSB Life Property Fund and the Lloyds TSB Property Pension Fund.

The Florida State Board of Administration (FSBA), which runs the $100bn Florida Retirement System (FRS), could soon be allowed to invest in tobacco stocks again, despite the objections of anti-smoking and health groups.

Allied Dunbar, a Zurich Financial Services Group subsidiary, is to launch its group stakeholder pension scheme by October 2001.

BISYS has purchased Universal Pensions, an American retirement plan services provider, in an $85m all cash deal.

London-based Avebury Asset Management has appointed Michael Smith as a vice president and portfolio manager.