News

The average UK pension fund achieved a weighted average return of -13.6% in 2008, research from BNY Mellon Asset Servicing reveals.

CANADA - The Canadian Minister of Finance has unveiled regulations to provide temporary solvency funding relief to federally regulated defined benefit pension plans.

EUROPE - Crédit Agricole Structured Asset Management (Casam) and the Edhec Risk and Asset Management Research Centre have jointly created a new research chair in core-satellite and ETF investment.

NETHERLANDS - The €71.5bn (US$94.3bn) PFZW pension fund has confirmed it will freeze pension increases for a total of four years in a bid to restore solvency.

Hewitt Associates has reappointed Gavin Tillman to its UK investment consulting team.

INDIA - The launch of the Indian national New Pension Scheme (NPS) has been set for May 1 following concerns about the ability to inform prospective members in time.

ISRAEL- Two of the largest banks in Israel - Leumi and Hapoalim - will be able to offer pension advisory services to salaried workers from April 1 2009, a year before initially planned.

EUROPE- BlackRock is tapping into investors' need to outsource as it looks to grow its Europe, Middle East and Africa business.

UK - The average UK pension fund achieved a weighted average return of -13.6% in 2008, research from BNY Mellon Asset Servicing reveals.

US - The $173bn California Public Employees Retirement System (CalPERS) is overhauling its hedge fund relationships asking for more transparency and demanding fees based on longer-term performance.