News

AUSTRALIA - New South Wales shadow treasurer Mike Baird is calling on the state to create bonds suitable for self-managed superannuation fund investors that would then be used to fund state infrastructure projects.

The £10.6bn Shell Contributory Pension Fund is set to invest 5% of its portfolio in hedge funds and other alternatives for the first time, a trustee newsletter reveals.

Financial staff pay little into pensions; DC default schemes in need of overhaul

The Pensions Regulator has reviewed and changed the information used in the valuation summary form to make it easier to review recovery plans.

Pension fund apathy on environmental issues twinned with short-term analysis of the problem has suppressed the inclusion of climate change in investment decision making, research shows.

Hewitt Associates has hired John Rushen as head of its UK investment consulting practice as part of an internal reorganisation.

Treasury minister Paul Myners has called for the establishment of an independent Council for Institutional Investors to speak on behalf of schemes and other institutional investors.

UK - The £4.1bn (US$6.5bn) Merseyside Pension Fund has retained fixed income managers Schroders and Legal & General following a formal review and tender process.

US - New York state comptroller Thomas DiNapoli will have some company as he leads the state's US$116bn pension fund if a new legislation calling for the abolition of the single-trustee model is passed.

US - The Fresno County Employees Retirement Association (FCERA) has terminated Brandywine Global Investment Management for poor performance, despite the firm offering to drop its performance fee to zero.