News

NETHERLANDS - Schemes are set to receive a refund of over €500m following a legal challenge against the Dutch tax authorities by the Strathclyde Pension Fund.

GLOBAL - Lyxor Asset Management has reported it ended 2008 with over €5bn (US$6.6bn) of assets under management in its European equity exchange traded fund (ETF) platform.

UK - Defined benefit pension schemes reached an aggregate deficit of £194.5bn (US$277.5bn) in December 2008, figures from the Office for National Statistics reveal.

GLOBAL - Investec Asset Management has enhanced its currency fund range, launching new US dollar and euro share classes to sit alongside the existing pound sterling share class.

The net cost of buyout for pension schemes which remained heavily exposed to equities became 13% more expensive during 2008, latest figures by Paternoster reveal.

GLOBAL - AIG Global Real Estate has put its fund management business for sale - a move that follows a US$85bn loan agreed with the US government in September 2008.

US - AK Steel Holding Corporation has posted a record net loss of US$430.6m in Q4 of 2008 - including a $699.5m non-cash charge related to the company's pension plan.

UK SCHEMES are set to receive a refund of over €100m (£93m) following a legal challenge against the Dutch tax authorities by the Strathclyde Pension Fund

UK - The net cost of buyout for pension schemes which remained heavily exposed to equities became 13% more expensive during 2008, latest figures by Paternoster reveal.

Cardano has hired Richard Urban and Pushkin Singh Akhawat to its London-based investment management team.