News

CHILE - Chilean pension funds posted an overall positive result during the month of March, reaching a total value of US$82.2bn, data by the national watchdog revealed.

UK - Barclay is tight-lipped on a report that claims the firm will consider accepting bids for the whole of its asset management arm, Barclays Global Investors.

UK - The Pension Protection Fund's financial situation might drive trustees to consider a buyout to prevent their scheme falling into the lifeboat fund, Paternoster says.

US - Only 32% of Americans say that companies will reinstate pensions if they were cut, while 25% claim they will not and 43% remain unsure, according to the Harris Poll, a nationwide survey conducted between March 24 and 26 by Harris Interactive.

GLOBAL - UBS is set to cut nearly 9,000 jobs globally following heavy first quarter losses, but Global Pensions understands the 11% cut in global workforce will leave the asset management division unscathed.

Large investment consultants are increasingly adopting the fiduciary model at a faster pace in the current economic situation, AllenbridgeEPIC says.

NETHERLANDS - The Shell pension fund will cut its equity allocation, increase contributions and skip indexation this year as part of its recovery plan submitted to the Dutch pension regulator.

US - CalPERS assets under management dipped 6.4% to $171.6bn in the first quarter of 2009 on the back of weak equity returns and write downs in the pension fund's real estate and private equity investments.

US - Although suspending contributions can immediately reduce expenses, it can increase the risk of regulatory non-compliance and also affect employee morale, according to Mercer.

Troubled building society Dunfermline has applied for its pension scheme to enter the Pension Protection Fund.