News

US - Five pension funds have filed an amended complaint against Bank of America (BofA) alleging the firm mislead investors in the lead-up to the bank's acquisition of Merrill Lynch.

AUSTRALIA - Confidence among Australian fund managers in local markets is at its highest level since 2005, according to the latest Russell Investments Manager Outlook.

UK - Jessops is set to sell its main operating company to a special purpose vehicle owned by its bank, pension scheme and an employee trust.

UK - Buyout provider Paternoster will have the ability to write new business after shareholders agreed to inject £5m (US$8m) of new capital into the group.

Buyout provider Paternoster will have the ability to write new business after shareholders agreed to inject £5m of new capital into the group.

Dairy Crest will close its defined benefit pension scheme to future accruals with effect from April 1 next year.

The Merchant Navy Officers Pension Fund has insured around £500m of its pension liabilities through a bulk annuity buy-in deal with Lucida.

Jessops is set to sell its main operating company to a special purpose vehicle owned by its bank, pension scheme and an employee trust.

US - United States Commodity Funds (USCF) has listed a short oil fund on NYSE Arca, as the price of oil declines.

CANADA/US - A unit of the Ontario Teachers' Pension Plan (OTPP) will take a stake in Simmons, the US-based mattress maker said as it outlined its bankruptcy and restructuring plans.