Regions

GLOBAL - Many sovereign wealth funds did not rebalance in the wake of the financial crisis, suggesting their roles as pension providers has lost importance, one expert said.

US - Five pension funds have filed an amended complaint against Bank of America (BofA) alleging the firm mislead investors in the lead-up to the bank's acquisition of Merrill Lynch.

EUROPE - The proposed Alternative Investment Fund Managers Directive is in some respects "misguided" and would reduce investment returns and increase risk, the UK's National Association of Pension Funds (NAPF) has claimed.

US/UK - The US should adopt the UK's practice of allowing shareholder advisory votes on executive compensation, a new report released today argued.

EUROPE - Hedge fund managers' client base has become more institutional than retail over the past year - leading to an "insitutionalisation" of the industry, International Asset Management said.

US - Manager search activity increased in the first half of the year as investors funnelled 327% more assets into new fixed income mandates than last year, according to data compiled by Mercer.

GLOBAL - Pension funds are increasing their exposures or considering an entry into the convertible bond market as they try to take advantage of these underpriced securities, industry figures say.

EUROPE ­- Listed companies need better ways to communicate with long-term institutional and retail investors to avoid a continued outflow of funds from equity markets, EuropeanIssuers (EI) said.

GLOBAL - Some 181 of the world's largest global investors have issued a joint call for policy makers to take "strong action" against climate change ahead of key negotiations to be held in Copenhagen this December.

UK- London Borough of Brent Pension Fund invests in infrastructure; US- Delta Airlines pension contribution; NETHERLANDS- Anti-social behaviour