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.
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Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point