News

UK alone in pension fund slump, says OECD

The UK is the only major developed nation where pension scheme deficits have worsened this year, Organisation for Economic Co-operation and Development figures show.

BNY Mellon Asset Management has completed the acquisition of Insight Investment Management from Lloyds Banking Group.

Stroud and Swindon is to close its defined benefit scheme to future accrual, the building society confirms.

Balanced pooled funds posted a median return of 18.4% in the third quarter of 2009, latest pooled pension fund performance results from BNY Mellon Asset Servicing reveal.

Schemes hedged liabilities of more than £11.4bn during the third quarter of the year, analysis from F&C reveals.

EUROPE/GERMANY - The European Commission asked Germany to amend its legislation on taxation of dividends paid to German pension funds, arguing the higher tax paid by foreign investors is discriminatory against non-German pension funds.

UK - Two-thirds of pension managers believe schemes need to play a more active role in investment governance.

US - The Illinois State Teachers Retirement System (TRS) plans to search for an absolute return consultant and large cap core managers.

US - The Florida Retirement System Trust Fund (FRSTF) is set to divest from two more companies with business operations in Iran.