News

US - The State of Illinois Teachers' Retirement System (TRS) has terminated a fixed income enhanced index mandate held by Neuberger Investment Management, blaming performance and organisational concerns.

AUSTRALIA - Superannuation funds are struggling with liquidity issues as members flock to safety, according to QIC Capital Markets.

Including: AUSTRALIA - Minister highlights lost accounts; UK/IRELAND - Hewitt hires UK and Ireland managing director; GLOBAL - T. Rowe Price appoints global equity specialist

Hewitt Associates has appointed Andy Cox as managing director for the UK and Ireland.

AUSTRALIA - The Australian government has asked a panel looking into the future of its tax system to bring forward work on the retirement income system and report by the end of March 2009.

UK - The aggregate funding position of the 7800 defined benefit (DB) funds monitored by the Pension Protection Fund worsened to £136bn (US$202bn) in November.

SALES of small self-administered schemes have rocketed as business owners seek out cost-effective ways to raise capital, Hornbuckle Mitchell says.

UK - The Financial Reporting Council (FRC) has urged trustees to be more vigilant over the actuarial assumptions they use.

GLOBAL - The Principles for Responsible Investment (PRI) is planning to launch a global and non-commercial database on investment research focused on environmental, social and governance (ESG) issues.

INCLUDING: US - CalPERS appoints new Benefit Services Division chief; CANADA - OTPP acquires stake in Maple Leaf; NETHERLANDS - ING closes purchase of Oyak Emeklilik