News

GLOBAL - PIMCO's Bill Gross has urged investors to look to emerging market debt as low rates and rising inflation present an immediate threat to portfolios and treasuries are set to be "overvalued for decades".

Friends Life has appointed David Still to the newly created position of director, retirement income in a bid to increase its presence in the annuities market.

GLOBAL - Institutional investors who gain their global equity exposure through hiring regional managers may be exposed to unintended risk, Hermes Global Equities Advisors warns.

AUSTRALIA - The demand for private sector involvement in infrastructure investments is increasing and expected to lead to greater availability of quality assets, Mercer Australia believes.

PUERTO RICO - Puerto Rico's A3 general-obligation debt rating is under review for a possible downgrade because of pension strains, Moody's Investors Service said.

UK - Aberdeen Asset Management has seen its profit before tax surge 54% to £142.8m ($235m) for the six months to the end of March.

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.

Head teachers have overwhelmingly voted to hold a ballot over national strike action in response to pensions changes recommended in the Hutton Report.

US - Robert Grady, the head of the investment panel that advises New Jersey's $72bn pension fund, said last year's Dodd-Frank law should be repealed because it impairs the competitiveness of US capital markets.

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