News

US - CIM Group, a Los Angeles real- estate investment manager, agreed to cut fees it charges the California Public Employees' Retirement System, the biggest U.S. government pension, by $50m, the fund said.

AUSTRALIA - Bi-partisan consensus on superannuation policy must be achieved to give Australian workers confidence in their retirement savings, the Association of Superannuation Funds of Australia (AFSA) said.

GLOBAL - Investment fund assets worldwide increased by 3% to €17.47trn ($24trn) at the end of the second quarter of 2010, research shows.

The government has lost its long running court battle over its obligations to fund the BT Pension Scheme deficit should it go bust.

Market rumours that rival firms were looking to buy Jardine Lloyd Thompson sent shares in the FTSE 250-listed company shooting up from 21p to 602p yesterday.

The findings of the independent review into the operation of auto-enrolment will be released next week, pensions minister Steve Webb confirms.

JLT takeover bid rumours; State pension age rise expected to affect 5m; Public sector cuts make strikes inevitable; Uniq plans to lift pension burden

The £4.6bn Merseyside Pension Fund has appointed four new asset managers to run its Asia-Pacific and emerging market portfolios following a review.

Schroders has appointed Philippe Lespinard to the newly created role of chief investment officer for fixed income.

Several people connected with Tudor Capital Management, a pension scheme administration service provider, have been arrested on suspicion of fraud, cheating the public revenue and money laundering.