News

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.

GLOBAL - Towers Watson has raked in $50bn in assets under advisement globally through its implemented investment services business, the firm's fiduciary management offering.

UK - MPs are set to undergo the same pensions reform as the wider public sector and have a new scheme imposed on them by 2015, it was announced yesterday.

CANADA/US - The Canadian Imperial Bank of Commerce (CIBC) has acquired a 41% stake in US asset management firm American Century Investments in a move to increase its international asset management offerings.

Cash gains ground on pensions in top pay; MPs love power to set their pensions

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.