News

UGANDA - Uganda's state pension fund reported a return of 7% on members' contributions for the year to June, chairman Vincent Ssekkono said.

Global technology firm Smiths has agreed a 10-year funding plan for its two principal UK defined benefit pension schemes.

GLOBAL - Investor confidence fell in Europe and the US in September despite a rally in equities, research by State Street Global Markets (SSGM) shows.

US - The South Carolina public pension fund's plan to create a company to manage private-equity assets should be held up pending legislative and administrative review, according to a spokesman for state Treasurer Converse Chellis.

GLOBAL - Expectations for average total property returns are falling sharply around the globe as economic uncertainty, reduced access to financing and increased supply take their toll, research has warned.

SWEDEN - Northern Trust has appointed Annika Larsson and Erik Norland as senior relationship managers in Stockholm.

US - CalPERS is supporting Massey Energy's improved corporate governance proposals in the wake of a coal mine explosion which killed 29 of the firm's employees.

US - The New York State Common Retirement Fund (CRF) will invest $15m in early-stage companies through its new High Peaks Seed Venture Fund.

IRELAND - Allied Irish Banks (AIB) has invested €12m ($16m) of pension scheme assets into a special purpose vehicle set up to recover toxic debt.

Ros Altmann, director-general of Saga, has slammed Bank of England deputy governor Charlie Bean after he encouraged people to spend their savings to boost the economy.