News

CANADA - Jovian Capital Corporation has launched the first actively managed exchange traded funds (ETFs) in Canada, based on the S&P/TSX 60 indices.

GLOBAL - RBS has shut down its transition management business as it seeks to focus on its core business.

US - The State of Michigan has been appointed lead plaintiff against a class action suit to be brought against failed banking giant Bear Stearns and five current and former executives and directors.

UK - The trustees of the £1bn Plumbing and Mechanical Services (UK) Limited Pension Scheme have reappointed JPMorgan Investor Services to provide the fund with custodian services.

RBS has shut down its transition management business as it seeks to focus on its core business.

EMPLOYERS are wasting more than £85m each year on running defined contribution schemes instead of group personal pensions or stakeholder scheme alternatives, a consultant says.

M&S changes scheme in bid to cut costs; FSA could extend rule on short-selling disclosure to all public companies; Hermes delays restructuring

US - The US population will be exposed to increasing retirement risks, as a result of an ongoing transition in the pension landscape, a report by Allianz Global Investors AG (AllianzGI) reveals.

UPDATED clearance and abandonment guidance from The Pensions Regulator has been released which brings it in line with the Pensions Act 2008.

NETHERLANDS - PGGM has hired Kas Bank as custodian for a portion of the European securities portfolio it manages on behalf of Pensioenfonds Zorg en Welzijn (PFZW).