News

Pension funds should accept some degree of responsibility for the investment practices which have cause the global economic crisis, the UN Principles for Responsible Investment Initiative says.

THE Local Authority Pension Fund Forum has urged companies to strengthen the link between executive pay and long-term performance.

UK - Falling markets have left some investments in defined contribution schemes worth less than the cash contributions made into them, PricewaterhouseCoopers says.

GLOBAL - AXA Investment Managers has reported a fall in assets under management of 12% due to "negative market effects".

US - The Teachers' Retirement System of the State of Illinois (TRS) has hired three managers for mandates totalling US$330m.

There has been a fundamental shift in people's attitude towards retirement and the industry must respond, Standard Life says.

The deficit of final salary schemes worsened by £16bn in February to a total of £45bn, Aon Consulting says.

iShares, the exchange-traded fund arm of Barclays Global Investors has launched five fixed income ETFs to meet the overwhelming demand for a wider range of exposure to bond markets.

US- Chicago-based Northern Trust has said it is working to quickly pay back the US$1.5bn it received under the Troubled Asset Relief Program (TARP) after it was chastised by lawmakers for spending on a golf tournament sponsorship.

INDIA- Franklin Templeton Investments has restructured its management team in its Central and Eastern Europe, Middle East and Africa (CEEMEA) and India divisions.