News

Government builds its Nest for flagship pension

IRELAND - The country's €22.3bn (US$32bn) National Pension Reserve Fund (NPRF) returned 20.9% last year on the back of rising equity markets, the National Treasury Management Agency said.

UK - Aberdeen has acquired £13.5bn (US$21.6bn) of long-only multi-manager and fund of hedge fund assets from RBS Asset Management for £84.7m.

Aberdeen has acquired £13.5bn of long-only multi-manager and fund of hedge fund assets from RBS Asset Management for £84.7m.

National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

UK - National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

US -California governor Arnold Schwarzenegger equated the state's rising pension costs to a "locomotive" and pledged to make pension reform a priority in 2010 in his annual State of the State address yesterday.

GLOBAL - TCW's purchase of Metropolitan West Asset Management may be a predictor of things to come as independent firms will drive merger and acquisition activity in 2010, investment bank Jefferies said.

US - Denver-based asset manager Janus Capital Group has hired Richard Weil from rival PIMCO as its chief executive officer.

Denver-based asset manager Janus Capital Group has hired Richard Weil from rival Pimco as its chief executive officer.