News

Cordea Savills has launched a flagship open-ended UK commercial property fund with a target size of £1bn.

Asset managers are staying in the "comfort zone of defined benefit" and are failing to seek business opportunities in defined contribution schemes, Spence Johnson says.

UK - Asset managers are staying in the "comfort zone of defined benefit" and are failing to seek business opportunities in defined contribution schemes, consulting firm Spence Johnson said.

Employer communications that are segmented to focus on the differing needs of employees help them to understand and appreciate their pension benefits better, Vebnet says.

CANADA - The Caisse de dépôt et placement du Québec has partnered with investor Capital régional et coopératif Desjardins (CRCD) to invest a total of C$600m (US$573m) between the two in small and mid-sized businesses (SMBs).

GLOBAL - Dutch pension provider ABP and US pension fund California Public Employees' Retirement System posted 2009 results of 20.2% and 11.8% respectively.

US - The City of Westland Police & Fire Retirement System filed a class action lawsuit against Alcon, Novartis and Nestlé, alleging that Novartis' recent public offer for Alcon discriminated minority shareholders.

ISRAEL - Israel should cut its existing tax break for pensions and increase the pension age for women in order to promote savings among poorer populations, the OECD said.

BMW has outsourced the administration of its UK defined benefit scheme to Aon Consulting.

Partha Dasgupta has been named as the new chairman of The Pensions Advisory Service.