US - The Pennsylvania State Employees' Retirement System (SERS) board has altered its investment portfolio to include allocations to collateralised loan obligations and emerging markets.
The fund also announced up to $25m of assets would be allocated to the ABRY Advanced Securities Fund, and up to $30m would go to LLR Equity Partners III. Both were as a follow-on investment.
Siguler Guff BRIC Opportunities II fund was also given an extra $25m.
SERS said the investments would be funded from cash as part of its long-term investment plan and were subject to successful completion of contract negotiations.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.