CHINA - The National Council for Social Security Funds (SSF) has selected five MSCI Barra international equity indices to benchmark its externally managed funds.
Zhang Lan, deputy director of global investment dept, SSF, said: "The new funds are designed to diversify our equity portfolio by gradually increasing our exposure to international equities and, as one of the leading providers of international equity indices, MSCI Barra meets our needs."
The five new funds would be benchmarked to the MSCI World, MSCI Emerging Markets, MSCI China, MSCI Europe and MSCI AC Asia Pacific ex-Japan indices.
Baer Pettit, managing director and global head of client coverage, MSCI Barra, said: "The decision by one of the largest pension funds in China to use our indices reflects the quality of our index methodology, products and services, and their relevance to investors worldwide."
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.