News

A £1.1bn government auction of 13-year 1.875% index-linked treasury gilts has been oversubscribed by 2.72 times.

Falls in global equity values have caused Smiths Group's pension deficit to soar by £453m.

Shortfall for Smiths Group highlights fear over pensions; Councils 'negligent' on Icelandic deposits; Legal & General slashes dividend; Crombie to stand down at Standard Life

GLOBAL - The way the financial system is currently set up raises questions on how ownership is structured, Hermes Fund Managers senior advisor David Pitt-Watson said today.

NORWAY - The Government Pension Fund-Global is re-evaluating its risk processes to include credit and liquidity risk after losses in the fund's fixed income portfolio.

UK - A £1.1bn government auction of 13-year 1.875% index-linked treasury gilts has been oversubscribed by 2.72 times.

NETHERLANDS - Compendeon Pension and Investment Management chief executive Erik Van Dijk is setting up a new advisory and consultancy business called Lodewijk Meijer.

NETHERLANDS- The Dutch government is mulling increasing the retirement age by two years to 67.

US / EUROPE - Five more pension funds from the US and Europe have joined the class action suit against the Bank of America (BoA) over its merger with Merrill Lynch.

Zurich has appointed five specialist consultants to its pensions team to raise the company's profile in the intermediary market.