News

A European parliamentary committee has backed proposals to exempt pension funds from rules forcing them to clear over-the-counter derivative transactions through central counterparties.

US - Mercer Investment Consulting has acquired investment consultancy Evaluation Associates from Milliman for an undisclosed sum.

AUSTRALIA - The A$9bn (US$9.6bn) HOSTPLUS industry superannuation fund has launched an online advice service that provides members with a personalised superannuation plan, including investments and insurance strategies.

AUSTRALIA - A proposed merger between Equipsuper and Vision Super has been postponed on the eve of the agreed date following objections from board members.

GLOBAL - Pension fund managers should develop a currency policy separate from their asset allocation policy, attendees at the GP Currency Management Focus heard yesterday.

A Luxembourg investment fund is in exclusive talks about a deal to invest £400m of new capital in Pension Insurance Corporation.

US - Prudential Retirement has completed the first pension buy-in transaction in the US with a $75m pension risk transfer.

GLOBAL - Attempts to move away from the US dollar as the currency reserve are ‘fraught with danger' said Paul Chappell, chief investment officer at currency manager C-View.

UK - Scheme sponsors are increasingly transferring property to insurance companies in risk reduction deals as insurers develop innovative ways of taking on scheme liabilities, experts say.

US - The Teacher Retirement System of Texas has awarded LaSalle Investment Management a $200m mandate to invest in real estate co-investment opportunities around the globe.