INCLUDING: US - CalSTRS' worst performance in six years; JAMAICA - C&W sells off real estate; UK- Ombudsman 'effective and necessary'
The California State Teachers' Retirement System (CalSTRS) told the Wall Street Journal the result was the worst it had received in six years resulting in AuM of $162bn in assets and unfunded liability of around $19bn.
Last year CalSTRS posted a 21% return on investments, adding $26bn to the fund which stood at $170bn at 30 June 2007.
JAMAICA - The Cable and Wireless (C&W) pension fund has put part of its real estate portfolio up for sale.
The fund has put three commercial properties in Kingston, reportedly worth JAM$2bn (US$20m), on the market.
A UK spokesman told Global Pensions the Jamaican arm of C&W ran a pension fund 'virtually independently' of the company, through local firm Prime Asset Management.
UK - Pensions Ombudsman 'effective and necessary'
Pensions Ombudsman, Tony King's first annual report and accounts showed the office "as playing an effective and necessary part in protecting and promoting confidence in private pensions".
The report found the office had made solid progress in reducing the age of cases in the system.
It also found for the third consecutive year the office had closed more cases than it had taken on.
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.