News

FUND manager Hermes has come under fire from one of its biggest clients, the California Public Employee's Retirement System.

GAM has appointed Mark Hawtin as investment director.

INSTITUTIONAL sales saw total outflows of around £1.9bn in July, latest figures from the Investment Management Association show.

TWO-THIRDS of companies are planning to reduce scheme contribution rates as they find it increasingly difficult to meet cash obligations, Aon Consulting warns.

THE fifth judge for the Specialist and Alternative Investment Manager Awards 2008 has been confirmed. He is Watson Wyatt senior investment consultant Paul Jayasingha.

UK - More than two thirds of companies are planning to slash contributions towards final salary pension scheme deficits, Aon Consulting warns.

GLOBAL - A correction in the commodities market is giving pension funds a chance to increase their allocation to the asset class, providing additional portfolio diversification and inflation hedges.

US - The Pension Protection Act 2006 (PPA) has had a positive effect on 401(k) plan participation and contributions, according to a survey of 2,200 defined contribution (DC) plans by Vanguard Investments.

US - The union involved in ongoing discussions with Boeing over pay and pension agreement has urged members to strike.

Firms plan to cut payments into final salary schemes; Dresdner Kleinwort to slash London jobs after takeover by Commerzbank; Pound falls to two-year low on Darling blunder; Recession fears: Markets reel from Darling downturn talk