US - Pension funds are considering participating to the US Treasury toxic asset purchase plan along with asset managers and investors.
Florida State Board of Administration spokesman Dennis MacKee said SBA continued to evaluate the various economic stimulus and stabilization programs available through the federal government, although it had made no commitment so far.
Meanwhile, the US Treasury announced it was allowing smaller investment managers to participate in its toxic asset purchase plan.
In the latest refined set of guidelines, it highlighted the "Treasury's interest in participation by small, minority and women-owned businesses" as potential investors in the securities portion of the Public Private Investment Program (PPIP).
It also highlighted the potential for further expansion of participants and asset classes and the interaction of the Federal Reserve's Term Asset-Backed Securities Lending Facility (TALF) with the program.
Other ways to participate include providing services such as trade execution, valuation, and other financial services.
The Treasury said it would allow smaller firms to partner prior to or after the application deadline, including after the selection of the initial group of pre-qualified fund managers.
In addition, the guidelines stated "participation criteria will be viewed holistically" and said failure to meet any one criterion will not necessarily disqualify a proposal.
The Treasury launched the PPIP in conjunction with the Federal Deposit Insurance Corporation and the Federal Reserve in a bid "to repair balance sheets throughout the financial system and ensure that credit is available to the households and businesses, large and small, that will help drive us toward recovery".
The deadline for the application by interested firms is 24 April 2009.
A "substantial" parliamentary bill acting as a "roadmap" for the long-term future of private pensions will lead to a "significant period of calm", Guy Opperman has promised.
The Department for Work and Pensions (DWP) has completed its appointment process for the Single Financial Guidance Body's (SFGB) board, naming three non-executive directors.
Pensions and financial inclusion minister Guy Opperman has launched a simplified two-page annual statement in a bid to provide a best practice template for the industry.
Some 70% of defined contribution (DC) members want to know their scheme is personalised and tailored to their needs, an Invesco language study reveals.