News

CANADA/UK - The Ontario Municipal Employees Retirement System (OMERS) has closed on its previously announced acquisition of V.Group for $520m.

EUROPE/US - Hermes BPK Partners, the hedge fund investment arm of institutional manager Hermes, is to support and seed hedge fund businesses as the climate for start-ups in the $2trn industry re-emerges.

SWEDEN - Första AP-fonden (AP1) returned SEK 3bn ($463bn) after expenses in the first half of 2011, representing a return of 1.4%.

CANADA - Two pension funds have filed a C$6.5bn ($6.5bn) class action lawsuit against China-based timber company Sino-Forest and its auditor Ernst & Young.

UK - Trustees of the Morris Ashby Limited Pension Scheme have completed a £38m ($61.1m) buyout deal with Pension Insurance Corporation removing its liabilities from the Pension Protection Fund.

APG Group; BNY Mellon; Dreyfus Corporation; Northern Trust; TRS; QIC; AXA Investment Managers; Acadian Asset Management; BlackRock; Aon Risk Solutions; SSgA; Mercer; RBC Dexia Investor Services; Schroders

An age-dependent approach to DC default funds, which takes into account a member's human capital and financial wealth, is better than traditional lifestyling, research shows.

Retailers watch M&S's plans for auto enrolment; ‘Wait till you are 35 to save'; Young workers are the losers in pensions politics; Do advisers put commission before clients?; Directors' pay: shareholders suffer while fat cats grab the cream; New company...

Pensions ombudsman Tony King speaks exclusively to PP about why members are complaining about schemes and what administrators and managers can do to minimise these issues.

Schroders has hired Matthias Scheiber as a fund manager in its expanding multi-asset business.