News

INCLUDING: UK - Lehman applies for PPF bailout; UK - Paternoster secures pensions for TI Group; GLOBAL - Companies request clarity on climate change regulation; UK- Dundee Uni appoints Xafinity

UK - Defined benefit (DB) schemes ended last week with a £33bn (US$60.8bn) surplus but remain volatile, Watson Wyatt has said.

The £1.5bn Environment Agency Pension Fund has invested £24m in Robeco's clean technology private equity fund.

Putnam Investments has closed its $12bn (£6.6bn) prime money market fund as a consequence of "marketwide liquidity issues".

Better communication between trustees, sponsoring employers and members of defined contribution schemes can give a significant boost to financial outcomes, The Pensions Regulator says.

The £550m London Borough of Croydon Pension Fund has gone out to tender for four mandates in a restructure of its portfolio.

L&G aims to cap pension liabilities; Crunch hits pensions savings; City watchdog bans short-selling of banks; BlueBay optimistic after fund inflows weather turmoil; Barclays plans share issue to shore up Lehman bid

US - The City of New Orleans Employees' Retirement System is suing the chief executive of American International Group (AIG) for shareholder losses, which it alleges are the result of imprudent risk taking and mismanagement.

UK - The creation of the giant banking group following the merger of Lloyds TSB (Lloyds) and HBOS will have little immediate effect on pension fund portfolios, it has been claimed.

POLAND - The European Commission (EC) has threatened to take Poland to the European Court of Justice, unless it agrees to remove investment restrictions imposed on the country's pension funds.