News

US - The New York State Common Retirement Fund (CRF) and the five New York City public pension funds have reached a preliminary class action settlement agreement for US$624m with Countrywide Financial Corporation.

EUROPE - The €750bn (US$970bn) European rescue package is a positive short-term fix, but does not provide the structural changes needed to make pension funds and other investors fully comfortable with European sovereign credit, asset managers said.

EUROPE - The €750bn (£642bn) European rescue package is a positive short-term fix, but does not provide the structural changes needed to make pension funds and other investors fully comfortable with European sovereign credit, asset managers say.

EUROPE - The Economic and Monetary Affairs Committee of the European Parliament (ECON) has postponed today's vote on the Alternative Investment Fund Managers directive (AIFM) to May 17, in order to give "more consideration to the opinion of the Legal...

The Economic and Monetary Affairs Committee of the European Parliament has postponed today's vote on the Alternative Investment Fund Managers directive to May 17, in order to give "more consideration to the opinion of the Legal Affairs Committee".

FRANCE - The Fonds de Réserve pour les Retraites (FRR) gained 2.6% during the first quarter, according to estimated and unaudited data supplied by the fund.

The Association of Consulting Actuaries has confirmed Stuart Southall will replace Keith Barton as the trade body's chairman.

The Merchant Navy Officers Pension Fund has secured a further £100m of liabilities after signing a second buy-in deal with Lucida.

UK - The Merchant Navy Officers Pension Fund has secured a further £100m (US$149.9m) of liabilities after signing a second buy-in deal with Lucida.

Confusion remains about whether retirees aged under 55 in drawdown can switch provider without triggering a tax charge, Hornbuckle Mitchell says.