SINGAPORE - Singapore should consider asking companies to contribute more to employees' pensions as the nation's economy improves, said Lim Swee Say, secretary-general of the National Trades Union Congress.
Employers now pay as much as 14.5% of a worker's wage into a mandatory pension program called the Central Provident Fund, or CPF, while employees pay as much as a fifth of their salary. The government...
GLOBAL - PIMCO has hired five new investment staffers in London, New York and Singapore to round out its emerging markets equities team, with two joining from Goldman Sachs Asset Management (GSAM).
ASIA - Aviva Investors has appointed Kevin Talbot as chief investment officer (CIO) of fixed income and Manish Singhai CIO of equities in Asia.
TAIWAN - The Public Service Pension Fund (PSPF) has appointed Russell Investments as transition manager in what is thought to be the first mandate win of its kind in the country.
NORWAY/ASIA - Norway's sovereign wealth fund, the world's second largest, will increase investments in Asia, as the region leads the global economic recovery, said Norges Bank Governor Svein Gjedrem.
SINGAPORE - The Government of Singapore Investment Corp. (GIC) reported losses of 20% on its investments today for the year ended March 31, but said it has since recovered half of the year's losses on the back of rising equity markets.