News

UK - Trustees should assess their statement of investment principles (SIP) and be prepared to make changes to their portfolio to remain compliant with policy, Buck Consultants says.

Employers with existing schemes may face difficulties administering the qualifying earnings test, the Society of Pension Consultants warns.

CANADA - Q3 saw Canadian pension plans suffer their largest quarterly decline in a decade, RBC Dexia Investor Services has revealed.

NETHERLANDS - The €209bn (US$280bn) ABP fund has refused to reveal the extent of its losses in failed banking and insurance giant Fortis, following a misplaced bet which saw it up its stake just weeks before the firm's shares plunged in value.

UK - More than £14bn (US$24bn) worth of assets flowed into liability-driven investment (LDI) and other hedging strategies in Q3, according to MandateWire.

UK - Defined benefit (DB) pension liabilities of some of the world's largest banks are now significantly greater than the bank's equity market value, according to Pension Capital Strategies (PCS).

US - The outcome of the US election in three weeks will end some uncertainty and speculation as to the direction of the US economy, but will not be a 'magic bullet', asset managers warn.

Including: US - New York signs pension anti-fraud law; GLOBAL - Markets warned to expect more intervention; US - New ERISA guidance for fiduciaries; AUSTRALIA - Sunsuper acquires former Citistreet admin business

INDIA - As many as 25,000 employees of India's central bank plan to strike for a day on 21 October for a higher pension, the United Forum of Reserve Bank Officers and Employees' Association said.

GLOBAL - The hedge fund industry in the middle of a 'Darwinian' process which has altered the basis of the industry and radically changed the operating environment, an analyst claims.