News

GERMANY - German lifetime working account (lebensarbeitszeitkonto) schemes will strongly accelerate the pace of the transition from defined benefit (DB) to defined contribution (DC) schemes, much advocated by German companies in a country largely dominated...

The £75bn business comprising of Resolution asset management and Axial Investment Management is to rebrand as Ignis Asset Management.

US - The California State Teachers' Retirement System (CalSTRS) has committed to its first China-specific fund targeting private equity opportunities in the growing Asian economy.

FRANCE - The Caisse des Dépôts et Consignations (CDC), the institution the Sarkozy government plans to transform into a French sovereign wealth fund, has expressed doubts about its own size and ability to compete on a global scale.

GLOBAL - An OECD working paper on pension fund performance could act as a catalyst for regulators across the globe to develop international standards for the reporting of investment returns to allow comparisons between different jurisdictions.

US - The new head of the US$132bn global equities portfolio at CalPERS has revealed plans to move to a more top-down approach in the asset allocation process.

Public sector workers should be switched to defined contribution pension schemes to stop the growing "pensions apartheid", Hargreaves Lansdown says.

EMPLOYERS oppose proposed new pension accounting rules despite desire for change, a Watson Wyatt survey finds.

Trustees should establish a policy on cash equivalent transfer values before updated regulations come into force, Wragge & Co says.

The government has published a consultation document which includes draft regulations on the converting guaranteed minimum pension rights.