US - The Iowa Public Employees Retirment System (IPERS) has recovered US$35m from Westridge Capital Management, whose principals were arrested on charges of conspiracy and fraud in February.
Paul Greenwood and Stephen Walsh - principals of both Westridge Capital Management and associated WG Trading - were arrested on charges of conspiracy, securities fraud and wire fraud charges. The two are accused of allegedly scamming $554m from investors (Globalpensions.com; 26 February 2009) .
Other investors included the Carnegie Mellon University and the University of Pittsburgh, which have filed a suit against Westridge Capital, and related firms demanding a combined $114m worth of investments back.
The Sacramento County Employees' Retirement System had a $52m exposure and has recovered $5m, according to a release posted on its website in February, the most recent information regarding Westridge posted.
The North Dakota State Investment Board invested US$161.3m and has so far been able to recover $23.3m. The San Diego County Retirement Association is also known to have an exposure.
The US District Court for the Southern District of New York has appointed Robb Evans & Associates as the receiver tasked with identifying asset available for distribution back to investors. The firm has until 27 April to file a report with the courts describing how long it may take to distribute the funds.
A former energy and climate change secretary has said that by continuing to invest in fossil fuel firms, pension schemes are just making the climate change crisis even worse.
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) has ended its first full-year with a £9m actuarial surplus, the company says.
The Salvus Master Trust has launched a mobile app for members after employers revealed they wanted their members to have more access to online tools.
A rise in UK inflation back above the Bank of England's 2% target rate will not change the thinking of its Monetary Policy Committee with regards to interest rates, experts have said.