News

SWITZERLAND - Pre-tax profit at UBS's asset management division decreased to negative CHF59m (US$52.3m) from positive CHF236m at the end of 2008, according to the Swiss bank 2009 first quarter results.

The Hartford is set to close to new business in the UK in the coming months, the American insurer has announced.

US - Thirty-six attorney general's offices are set to create a multi-state task force to explore pension fund abuse across the country, New York State attorney general Andrew Cuomo has said.

UK - The Pension Protection Fund has launched an updated online reporting system for insolvency practitioners.

Manager search activity is slowing down as investors focus their attention on strategic issues, latest data from Mercer reveals.

UK - Aberdeen Asset Management has reported asset outflows of £13.9bn (US$21bn) in the six months to 31 March.

Aberdeen Asset Management has reported asset outflows of £13.9bn in the six months to March 31.

Pension funds to become landlords; Standard Life sales fall by 27%; Allowing more Gurkha veterans to stay could hit defence budget, claims minister

Buck Consultants has launched a service designed to help line managers address the needs of retained staff at each stage of a redundancy process, and keep a focus on the future.

US - The Securities and Exchange Commission has filed charges against private equity firm Aldus Equity Partners and one of its founding principals, Saul Meyer, in connection with a "kickback" scheme involving New York pension funds.