News

AUSTRALIA - The A$1.5bn ($1.57bn) legalsuper reported a 15% jump in employer contributions for the nine months to 31 March 2011 compared with the same period last year.

AUSTRALIA - Energy Super, the A$3.8bn ($4bn) industry superannuation fund, has selected financial services technology provider Financial Synergy to deliver its administration platform.

GLOBAL - HSBC Global Asset Management has launched the first CIVETS fund available to institutional investors.

GLOBAL - Some 93% of institutional hedge fund investors are considering increasing their allocation to the asset class over the next three years, suggesting a "significant" inflow of capital to come, research by Preqin suggests.

GLOBAL - Africa and Russia represent some of the best investment opportunities for funds considering emerging and frontier markets, Danish pension funds heard.

UK/RUSSIA - Trustees of HMV's pension scheme are in discussions with the retailer over its intended £53m ($85m)sale of the Waterstone's book chain.

Scrapping contracting-out for defined contribution schemes will drain more than £50bn from the pensions industry leading to a "significant" reduction for administrators and fund managers, government says.

Government poised to make deepest cuts ever to public sector pensions; Royal Mail write-off looms to drive sale

Trustees of HMV's pension scheme are in discussions with the retailer over its intended £53m sale of the Waterstone's book chain.

Pub group Mitchells & Butlers has closed its defined benefit pension scheme to future accrual helping it cut the fund's deficit by £112m in the last year.