GERMANY/US - German insurer Allianz has announced a restructure of its asset management business that gives subsidiary PIMCO, the world's largest bond manager, more freedom around distribution of its products.
Effective 1 January, the firm will create Allianz Asset Management which will be comprised of two distinct units - PIMCO and Allianz Global Investors. PIMCO will then become responsible for the distribution...
US - The California Public Employees' Retirement System (CalPERS) is in search of a manager to provide index fund products for six of its trust funds.
GERMANY - Germany's institutional investors are not only interested in returns, but also the safety of those returns, according to a study published by Union Investment.
US - Telecommunications companies AT&T and Verizon Communications could face increased pension payments next year as their liabilities soar to a combined $73.2bn, according to an analyst note from Bernstein Research, a unit of AllianceBernstein.
US - Rupert Murdoch and other News Corporation directors face opposition from corporate governance advisory firm ISS which advised shareholders to vote against their re-elections to the board.
The aggregate deficit of S&P 1500 pension plans increased by $134bn in September, reaching a "post-World War II high", Mercer claims.