INCLUDING: - AUSTRALIA - Super returns outclass, GLOBAL - IASB ruling, GREECE - Bond investigator...
AUSTRALIA – Super returns outclass
Superannuation funds are reportedly poised to deliver their best returns in a decade, according to research company SuperRatings, which predicted around a 5% return after fees and taxes this financial year.
The average fund’s five year return is now over 10%, making up for losses between 2001 and 2003.
GLOBAL - IASB ruling
New rules on interpreting the international pension accounting standard IAS19 have been outlined by the International Accounting Standards Board.
The rules, to be defined in July, could limit the level of pension fund surplus that may be shown on company balance sheets.
The rules would take effect for accounting years beginning after January 2008.
GREECE – Bond investigator
A prosecutor has been appointed to investigate the bond overpricing scandal.
Preliminary reports stated that up to 20 people could face charges.
US – New SSgA BRIC ETF
State Street Global Advisors (SSgA) has launched a BRIC exchange traded fund (ETF) on the American Stock Exchange (Amex).
The Reuters Pension Fund has completed a £625m full pensioner buy-in with Canada Life in the insurer's largest ever deal.
Anthony Arter will continue as head of The Pensions Ombudsman (TPO) until 31 July 2021, the Department for Work and Pensions (DWP) has announced.
The Nottinghamshire County Council Pension Fund has hired Kames Capital to run a £22m property mandate.
Former BHS owner Dominic Chappell has been ordered to pay £124,000 after losing an appeal against his conviction for failing to provide information to the regulator.