News

Andrew Drake, the co-founder of P-Solve Asset Management, has rejoined the business as a managing director.

£240bn final-salary pension deficit threatens to swamp lifeboat; Pensions tribunal acted beyond its powers

POLAND - Investment restrictions on Polish Open Pension Funds (OPFs) in other European member states have been found to be in breach of a key European investment law.

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.