News

GLOBAL - More new hedge funds launched in the first quarter of 2011 than any time since 2007, fuelled by a tailwind of industry assets breaching $2trn for the first time, research shows.

GLOBAL - Pension funds will continue to shift away from equities to bonds as a result of the latest changes to International Accounting Standards, Mercer says.

Pension funds will continue to shift away from equities to bonds as a result of the latest changes to International Accounting Standards, Mercer says.

EUROPE - The European Fund and Asset Management Association (EFAMA) has elected Claude Kremer as president for a two-year term.

AUSTRALIA - Russell Investments has appointed Dr Jerome Lander as director of consulting for Australia.

AUSTRALIA - The Superannuation Clearing House, a free service that streamlines superannuation payments for small businesses, has had around 4,500 employers registered in its first year of operation, the government said.

Government is set to lay out its detailed response to Lord Hutton's reform proposals later today, with contribution hikes set to be limited to workers earning more than £15,000.

Fidelity International has created a new defined contribution and Workplace Saving Business to be led by Julian Webb as part of a company restructuring exercise.

The International Accounting Standards Board has published the final IAS19 standard, confirming key changes that could see £10bn wiped off UK company profits.

NETHERLANDS - BNY Mellon Asset Servicing has been appointed by Stichting Rabobank Pensioenfonds (Rabobank Pension Fund) in the Netherlands to provide custody and other services for its $16.4bn of assets.