News

GLOBAL - Russell Investments has announced its Australian chief executive will be moved to London to take charge of the firm's international business operations.

US - African stock markets will launch a campaign to attract more investors from the US and Europe to boost liquidity in their markets, said Sunil Benimadhu, chief executive officer of the Stock Exchange of Mauritius.

GLOBAL - The economic downturn is no excuse to delay urgent negotiations over climate change agreements, some of the world's leading investors and pension funds have said.

UK - Britain's pension provision has never been more unaffordable and this generation faces being less well-off in retirement than their parents, the Conservatives warn.

CANADA - Part of the government's CAN$52bn (US$43.7bn) Employment Insurance (EI) surplus should be used to safeguard pensions, the UFCW union has said.

THE Financial Services Authority has fined AWD Chase de Vere Wealth Management £1.12m for "serious failings" in its pension transfer, pension annuity and income withdrawal business.

UK - Pension funds are continuing to move assets out of equities and into other investment classes, the National Association of Pension Funds says.

Scheme shortfall grows; HBOS takeover plan loses momentum as big shareholders express scepticism

US - A class action has commenced against the Federal National Mortgage Association (Fannie Mae) for alleged violations of the Employee Retirement Income Security Act (ERISA).

A FURTHER five defined benefit pension schemes entered into the Pension Protection Fund last month, resulting in an additional 1313 people around the UK receiving compensation.