News

MEXICO - The Principal Group will acquire HSBC's Mexican pension fund business for $198m.

CANADA - The Public Sector Pension Investment Board and British Columbia Investment Management Corporation have agreed to acquire TimberWest Forest Corp for C$1.03bn ($1.07bn).

Towers Watson president and chief operating officer Mark Mactas will retire at year-end after more than three decades with the firm, the consultancy confirms.

US - Towers Watson president and chief operating officer Mark Mactas will retire at year-end after more than three decades with the firm, the consultancy announced.

MEXICO - Mexico will allow pension operators to hire third-party firms beginning in May to help manage their investments, the chief of the country's retirement-fund regulator said.

The indexation of civil service pensions was switched from Retail Prices Index to the Consumer Prices Index today.

The average FRS17 funding level of university pension schemes improved three percentage points last year due to recovering equity markets, Barnett Waddingham research shows.

Kentucky Retirement System, Mercer, PensionsFirst, Towers Watson, Northern Trust, J.P. Morgan

Schemes are lagging when switching asset classes with nearly 80% taking at least three months to adopt a new investment strategy, research shows.

UK - Pension trustee boards continue to struggle to make swift changes in allocations to new asset classes, research by Aon Hewitt shows.