News

AUSTRALIA - Australian superannuation funds bias towards domestic equities is set to come to an end, as changing market conditions force them to look internationally.

US - Legislation limiting the type of structured products that can receive ratings from credit ratings agencies has been introduced in the US this week, in a bid to restore confidence to the market.

EUROPE - European pension funds drastically accelerated the outflow from equities during the second quarter of 2008, a report by financial information company MandateWire has found.

TRUSTEE champion Brian Holden is developing a governance structure for pension schemes to coincide with two EU initiatives.

SCOTTISHPOWER has appointed Capita Hartshead to administer its two pension schemes.

US - pension funds grappling with volatility and plummeting stocks in the current market should focus on the light at the end of the tunnel, according to a recent Russell Investments study.

Economy heads for recession as growth slumps; Credit Suisse cautious despite return to profit; JP Morgan leads possible HBOS break-up; S&P warns on traditional loan book losses

GLOBAL - Sovereign wealth funds (SWFs) are expected to lead the move into new alternatives in the next decade, but are in no rush to do so say industry professionals.

INCLUDING - CalPERS reassures members over budget deadlock; NPRF reports terrible H1; Quebec bill 68 gets go ahead; PBGC injection to Norwegian-owned fund

FRANCE - The effectiveness of France's controversial 2003 'Fillon reforms' has been questioned by the Caisse nationale d'assurance vieillesse (CNAV), the general public sector social security retirement system.