News

The total deficit in the pension schemes of FTSE100 firms fell to £64bn over the past three months, latest research from Pension Capital Strategies reveals.

Aviva's life and pension sales fell 11% in the first nine months of 2009, but the insurer says it has made significant improvements to its capital position.

UK - About £4bn (US$6.5bn) worth of buyout, buy-in and longevity swap deals were struck during the third quarter of the year, Hymans Robertson analysis revealed.

EUROPE - The CFA Institute does not believe the European Union directive requiring more regulation of alternative asset managers will harm the alternatives business, and a recent CFA survey shows many members support some aspects of the proposal.

NEW ZEALAND - A consortium comprising the New Zealand Superannuation Fund and infrastructure investment fund Infratil is in exclusive talks to acquire part of Shell New Zealand's refining and downstream assets.

UNITED ARAB EMIRATES - Royal Bank of Canada has expanded its corporate pension trustee and administration business to the Middle East by bringing in two new hires in Dubai.

CANADA - The C$2.2bn (US$2.03bn) Saskatchewan Teachers' Federation has hired State Street to provide custody, fund accounting and securities lending services.

US - Kevin McCabe, who acted as a placement agent for a private equity firm that received US$800m in New York pension fund investments, agreed to pay $535,000 to end a probe of his role by state Attorney General Andrew Cuomo, according to his attorney....

Vicars' pensions under threat as church is seduced by equity cult; End game near for final salary pensions

The Church of England has refuted media reports that its pension scheme had succumbed to the "cult of equity" after investing all its assets in equities in the late 90s.