JAPAN- Japan's Government Pensions Investment Fund (GPIF) saw a Y5.7trn (US$58.4bn) decline in assets in the fourth quarter of 2008 on the back of weak equity returns.
The best performer for the pension fund was domestic bonds, which returned a positive 2.5%. International bonds returned -11.24%.
The negative return on international stocks translated to a Y3.5trn fall in the market value of the overall portfolio.
Some Y2.7trn in losses was due to the negative returns on domestic stocks while international bonds caused a Y1.1trn loss in the value of the overall portfolio.
Domestic bonds accounted for a I1.5trn gain in market vale.
At December 31, the Y116trn pensions fund invested 75.9% in domestic bonds, 9.46% in domestic stocks, 7.82% in international bonds, 6.66% in international stocks and 0.17% in short-term assets.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.