News

Including: PHILIPPINES - JPMorgan wins Philippines mandate; ASIA-PACIFIC - IFSA signs Korean deal

US - New York pension reform proposals included in the governor's 2009-10 executive budget will generate savings of US$48.5bn over the next 30 years, analysis shows.

Ex-RBS chief Sir Fred Goodwin plans to ride out pension storm abroad

GLOBAL - Institutional Investors make up the 'absolute majority' of hedge fund investors for the first time, the Alternative Investment Management Association has said.

NETHERLANDS - Dutch pension fund PME could be forced to cut pensions by up to 10% next year in order to meet the 105% funding level required by the government, the scheme has confirmed.

FRANCE- BNP Paribas believes Fortis shareholders who blocked its acquisition of the troubled bank have changed their stance and BNP will be able to successfully negotiate a deal by the March 6 deadline.

Tesco is set to increase payments to its pension scheme by an extra £4m a year to plug a deficit of £275m.

ITALY - The Italian government has laid out a draft law to increase the retirement age of women from 60 to 65 years old.

UK - Television company ITV is set to begin consultation with trustees and staff over possible changes to the defined benefit sections of its pension scheme.

TRUSTEES lack confidence in their own abilities to negotiate and their advisers, a survey by Independent Trustee Services shows.