News

Interserve is set to close its defined benefit scheme to future accrual for all non-passport members from the end of this year.

The Bank of New York Mellon will acquire Insight Investment Management from Lloyds Banking Group for £235m.

US - State Street said its US$625m legal reserve may run dry after the Securities and Exchange Commission told the firm it planned to recommend enforcement action against them for violating securities laws.

UK - Friends Provident's board has recommended shareholders accept the latest acquisition offer from Resolution.

BRAZIL - The Canada Pension Plan Investment Board (CPPIB) and the Government of Singapore Investment Corporation (GIC) have teamed up with a Brazilian real estate developer to build a portfolio of commercial real estate properties.

NETHERLANDS - Kempen Capital Management has raked in fiduciary management mandates worth €800m (US$1.1bn) from five different investors, the firm announced.

US - Corporate pension funds outperformed all other institutional investors in the quarter ending June 30, according to data from consulting firm Wilshire Associates.

Lord Myners proposes market in voting rights

Trustees of the Ibstock Brick Pension Scheme have appointed Buck Consultants as the fund's investment consultants.

Hymans Robertson has appointed Helen McArthur as head of communication and engagement.