News

UK - The British Medical Association has challenged the government in the High Court over pensions paid to widowers by public sector schemes in a case which could cost the taxpayer £4bn ($6bn).

Man Group is to acquire the remaining exposure to the estates of bankrupt US investment giant Lehman Brothers from funds managed by its institutional asset management subsidiary, GLG Partners, for $355m (£221m) in cash.

US - Standard & Poor's has placed 76 fixed-income funds on credit watch because of their exposure to US Treasury and government agency securities.

Replacing tax relief on pensions with a matched savings scheme and setting up a "no-lose lottery" could help plug Britain's savings gap, a think tank says.

NAPF fears Solvency II type rules; Call for councils to remove £1bn in pension funds from tobacco firms; Dick Sluimers: APG pension chief calls for level regulatory playing field

GLOBAL - Man Group is to acquire the remaining exposure to the estates of bankrupt US investment giant Lehman Brothers from funds managed by its institutional asset management subsidiary, GLG Partners, for $355m in cash.

Doctors are urging local government pension schemes to ditch their investments in tobacco companies because they are "unethical" and lead to the death of thousands.

SSgA; Newton; CIC; Russell Investments; SRL Global

US - Legal analysis carried out by the California Public Employees' Retirement System (CalPERS) has ruled that pension promises made to current and retired members are a "vested right" and protected under State and federal laws.

Towers Watson has raked in $50bn (£31bn) in global assets under advisement through its implemented investment services business, the firm's fiduciary management offering.