INCLUDING: US - GEF hires India and South Asia MD; UK - Hewitt releases buyout guide; UK - SEI extends DC Master Trust
The Washington DC based Global Environmental Fund (GEF) has hired Raj Pai as managing director for its investment activities in India and South Asia. GEF, which manages $1bn in private equity investments for institutional investors, including pension funds, appointed Pai to look at investment opportunities, with a special focus on clean technology and alternative energy in Asia. Previously, Pai, who will be based in Mumbai, India, was a managing director at CID Capital.
UK - Hewitt releases buyout guide
Hewitt Associates has released a guide to help companies establish whether a pension buyout is right for them. The Elements of an Effective Buy-Out also contains practical help on managing their way through the process of transferring pension liabilities. The guide is based on Hewitt's experience of the market, having had over £1bn worth of transactions already completed by its clients, and quotations currently under way for transactions potentially worth a further £7bn.
UK - SEI extends DC Master Trust
SEI has extended the SEI DC Master Trust aimed at alleviating the drain on corporate pension schemes caused by the growing number of deferred members. The extension to services allows pension schemes to transfer the deferred members of their DC scheme or AVC arrangement to SEI. SEI said it was one of a series of enhancements to the SEI DC Master Trust, a fully bundled DC solution, to be announced over the next 12 months.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.