News

UK - Industry veteran Richard Stroud is to quit as a volunteer adviser with The Pensions Advisory Service, a non-profit organisation that advises on pensions, amid claims of ageism at the department for work and pensions.

Dear Sirs, I have decided to write this open letter after a great deal of consideration as well as with much regret.

If you would like to participate in the 2010 cycle of the PensionDCisions Sponsor Survey - published in association with Professional Pensions - now is your last chance to be involved.

EUROPE - Increased reporting on debt has been introduced by the third compromise version of the Alternative Investment Fund Managers (AIFM) directive released today by the Swedish Presidency of the European Council.

Congratulations to all those providers nominated by their clients for the Global Pensions Awards 2010!

US - The City of New Haven's Employee Retirement Fund (NHERF) has invested US$8m in a hedge fund replication strategy based on exchange traded funds (ETFs) marking the scheme's first foray into hedge funds.

KOREA - Institutional investors with a combined US$2.5trn in assets under management have written Korea's Ministry of Justice asking it to refrain from introducing anti-takeover measures known as poison pills into its Commercial Code.

SWEDEN - Swedish buffer fund AP1 has hired 12 small-cap equity managers, confirmed Peder Tiricke, senior portfolio manager in charge of external managers.

US - The Teachers Retirement System of Texas' (TRS) strategic partnership programme, which allows managers to provide proprietary research to the scheme alongside running broad asset management mandates, has returned 7.3% since its implementation a year...

Advice on group personal pensions should be paid for on a fee basis, even if employees receive no individual advice, the Financial Services Authority says.