News

AUSTRALIA - Superannuation assets rose 7.7% in 2010 hitting A$1.32trn ($1.32trn) at year end, according to quarterly data by the Australian Prudential Regulation Authority.

The government is asking "the entirely wrong questions" on defined contribution regulatory arbitrage, delegates heard.

Professional Pensions assembled a panel of three industry experts to talk about inflation risk, how it would affect schemes and what funds can do to address this.

Standard Life's operating profit before tax increased by 7% to £425m last year, boosted by the uptick in markets and an increase in corporate pension scheme clients.

Sovereign bondholders will be relegated down creditor lists if European policymakers push through plans for a bailout mechanism, Standard & Poor's warns.

Former Tory peer Lord Skidelsky has proposed the creation of a UK investment bank to encourage pension funds to invest in national infrastructure.

Pension funds would rather sell stock than take securities class action because it is too costly and time-consuming, delegates heard.

Schroders saw institutional assets under management increase by 39% to £106.4bn during 2010, driven by strong investment performance and a range of new products.

US - Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund.

UK - Final salary public sector pensions should be phased out in favour of cheaper career average schemes by 2015, Lord Hutton said.