FTSE

Scheme trustees must ensure their scheme does not slip down the priority order of creditors after company debt repayments doubled year on year, consultants warn.

KOREA - The $37bn Korea Investment Corporation has chosen three FTSE non-capitalisation weighted indexing strategies making it the first Korean institutional investor to take this route, according to the FTSE Group.

Trustees of the Toray Textiles Europe Pension Scheme have entered into a £63m pension insurance buyout with Pension Corporation.

The pensions deficit for the UK's largest companies remained stable in May, but major changes to accounting standards could increase shortfalls by £10bn, Aon Hewitt warns.

FTSE100 pension schemes could face serious consequences for not locking in an aggregate deficit reduction of £54bn in the last eight months, a report warns.

UK - The UK's biggest defined benefit schemes have knocked £40bn ($65bn) off their deficits over the past year, as stronger equity performance pulls schemes towards full funding, figures show.

Daily Mail and General Trust has introduced a raft of changes - moving members of its defined benefit scheme to a cash balance arrangement by March 2012.

BlackRock is preparing to expand its equity income fund range with the launch of onshore global, European, and resources offerings.

GLOBAL - Markets are continuing to fight back with all the leading indices trading in the black after G7 finance ministers agreed to cool the soaring yen.

EUROPE/JAPAN - Major European indices suffered triple-digit losses on Tuesday after a third explosion at Japan's Fukushima nuclear power plant raised fresh radiation fears and sparked a 1,000-point plunge on the Nikkei 225.