News

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.

Henderson Global Investors has hired a five-strong currency team from the investment banking arm of Fortis in a bid to boost its fixed income capability.

THREE investment associations have opposed public disclosure of short selling information.

US - S&P1500 pension plans are carrying a shortfall estimated at US$409bn - a deficit which could force companies to re-evaluate existing provision, Mercer says.

MARKS & SPENCER is set to cap employees' annual increases in pensionable pay and change early retirement benefits in a bid to cut costs.

UK - Marks & Spencer is set to cap employees' annual increases in pensionable pay and change early retirement benefits in a bid to cut costs.

UK - Pension fund trustees are facing average returns of -13% for 2008, preliminary State Street Investment Analytics figures reveal.

Pensions funds gain from drop in sterling

IRELAND - Irish pension schemes lost €27bn (US$36.7bn) in 2008 on the backs of poor performing Irish equity markets, a report by Rubicon Investment Consulting reveals.

NETHERLANDS - The solvency crisis among Dutch funds is the most severe in the industry's history, pension experts and industry commentators warn.