INCLUDING - UK - Burke joins Hewitt; ASIA - Asia Pacific appointments; US - Feckner re-elected CalPERS president; AUSTRALIA - Future fund positive returns; CANADA - Caisse de depot results; UK - NAPF welcomes risk sharing consultation
Hewitt Associates has appointed Jan Burke to its UK retirement practice. Burke joined Hewitt from Hymans Robertson where he had been a member of the limited liability partnership. He is an associate of the Pensions Management Institute.
ASIA - Asia Pacific appointments
Northern Trust has made five senior level appointments to manage new clients and regional business growth in Asia Pacific. Friedrich Burian has been appointed as head of risk management for the APAC region, based in Singapore; Martin Joyce as regional human resources director - Asia Pacific; Julia McKenny as regional general counsel; Kathy Dugan to head up asset servicing product development for the APAC region; and Jacqueline Mak as a client relationship manager in Hong Kong.
US - Feckner re-elected CalPERS president
The California Public Employees' Retirement System (CalPERS) Board of Administration unanimously re-elected Rob Feckner to a fourth term as its president and George Diehr as vice president.
AUSTRALIA - Future fund positive returns
The return for the Future Fund for the financial year to 31 January 2008 was 0.6%, equivalent to around AUS$63m (US$58.2m). The Future Fund said its portfolio was defensively positioned with a bias to interest bearing investments. Equities and property securities, which have been subject to significant volatility in recent months, made up just over 25% of the portfolio.
CANADA - Caisse de depot results
The Caisse de dépôt et placement du Québec announced the weighted average return on depositors' funds for the fiscal year ended December 31, 2007 was 5.6%. Depositors' net assets grew from CAD$143.5bn (US$142.7bn) as at 31December 2006 to CAD$155.4bn as at 31 December 2007. The $11.9bn increase is made up of the result of investment operations, totaling CAD$7.9bn, and net deposits of $4.0bn.
UK - NAPF welcomes risk sharing consultation
The National Association of Pension Funds (NAPF) has welcomed the announcement by the government that it will be consulting on the issue of conditional indexation and risk sharing in June 2008. However, it has urged the government to include legislation in the current Pensions Bill to enable the quick introduction of any changes resulting from the consultation. On 21 February the government rejected an amendment to the Pensions Bill which provided the necessary regulations that would enable the introduction of risk sharing in defined benefit schemes. This amendment would allow any changes to be introduced more quickly through parliament.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.