News

GLOBAL - Over a third of investors intend to increase their allocations to hedge funds in 2011 and only 10% said they would decrease the money they put into the industry, according to a survey by Preqin.

EUROPE - The long-anticipated Alternative Investment Fund Managers (AIFM) Directive has been passed into law following a plenary vote of the European Parliament.

BBC strike 'to be called off'; BBC offers unions fresh pension talks for call to end next strike

Schemes are continuing to reduce investment risk by shifting towards gilts and fixed interest and away from equities, data from the Purple Book reveals.

The restructure of Aegon's UK business cost the life and pensions firm €12m (£10.2m), third quarter results show.

CANADA - The Canada Pension Plan reported a 6.6% return on its investments in Q2 on the back of strong performance by global equities.

US - The California Public Employees' Retirement System (CalPERS) has invested $500m into a new internally managed strategy for investing in environmentally friendly companies.

Law firm Denton Wilde Sapte has merged with US-based Sonnenschein, Nath & Rosenthal to form SNR Denton.

Falls in liabilities relating to the shift from RPI to CPI for scheme indexation will shrink dramatically after the Office for National Statistics said it would include housing costs in the measure, industry experts say.

Legal & General Investment Management reported £26.5bn in new business in the nine months to September.