News

New Star to hand over business to banks; Investors reject restructuring at Centaurus fund; Fink to raise $5bn for eco-funds

GLOBAL - Pooled fund of hedge funds (FoHFs) failed to achieve positive returns during the third quarter of this year, latest data from BNY Mellon Asset Servicing reveals.

JAPAN - Tokio Marine Asset Management (TMAM) and Governance for Owners (GO) have launched the Japan Engagement Consortium (JEC), which will engage on behalf of institutional shareholders with Japanese companies to improve long term returns.

THE Pension Protection Fund has issued important guidance about the information that eligible schemes need to provide to ensure their levies can be calculated correctly.

UK - Cornwall County Council has gone out to tender for a passive global equity mandate for its pension fund, which would initially comprise a portfolio of £50m (US$72.3m).

GLOBAL - Credit Suisse has announced it will cut 5,300 jobs following an estimated preliminary net loss of CHF3bn (US$2.5bn) in the three months to the end of November.

UK - The economic downturn has shifted sponsor covenants to the top of the pensions agenda for UK trustees, Aon Consulting says.

IRELAND - Irish pension managed funds have failed to beat inflation over the last decade, returning just 0.8% per annum on average, compared to the Irish inflation rate of 3.8%.

A High Court ruling that so called "Barber window" payments cannot be split could mean scheme funding demands massively increase, a lawyer warns.

US - Seven institutional investors - members of the Investor network on Climate Risk (INCR) - have called on the top 500 global asset managers to respond to a survey on how they are evaluating climate risks and opportunities.