News

The High Court has ordered £32m of the missing £52m in the GP Noble fraud to be handed back to Independent Trustee Services.

GLOBAL - The European rescue package has provided an out for long-term investors that had underestimated credit risk in their European sovereign holdings, PIMCO managing director and head of European portfolio management Andrew Balls said.

ITALY - The €5.2bn (US$6.4bn) Fondo Cometa has hired nine managers and completed the renewal of mandates for its Monetario Plus, Reddito and Crescita sub-funds due to expire this year.

George Osborne's announcement that the department for communities and local government will bear £780m in cuts will increase the scrutiny on the affordability of local government pensions, Mike Woodall warns.

The coalition government will scrap the default retirement age "as soon as possible", pensions minister Steve Webb says.

UK - The coalition government will scrap the default retirement age "as soon as possible", pensions minister Steve Webb said.

UK/NETHERLANDS - Royal Bank of Scotland is nearing a deal to sell its European private equity portfolio to Alpinvest, a Dutch private equity fund owned by pension investors APG and PGGM, a person close to matter said.

Trustee champion Brian Holden has called for a drastic upgrade of scheme governance.

JLT Benefit Solutions has appointed Alan Hewitt as international benefits director from Aon.

David Laws was not the only new minister to read a letter from his Labour predecessor as he took office.