News

FORCING or encouraging workers not to join an occupational pension is set to become illegal if an amendment to the Pensions Bill is passed.

US - The California State Teacher's Retirement System (CalSTRS) has launched a national search for a director of global equities, following Elleen Okada's decision to depart.

JAPAN - Barclays Global Investors (BGI) reported a 160% increase in the number of pensions mandates last year, rising to 381.

Buyout specialists expected to pitch for £20bn-worth of funds; Watchdog's ruling lifts lid on hedge funds' positions; Institutional investors move to seize control of Bradford & Bingley; Daiwa turns the tables with derivatives foray

UK - The government has moved to clampdown on companies that force or encourage workers not to save in a workplace pension.

EUROPE - The EUR6.4bn (US$9.9bn) German church pension fund is looking to appoint a master KAG - a multi-manager cum administration firm specific for Germany - as well as a custodian bank, according to MandateWire.

US - The $500m senior pension funding bonds issued by the Employees Retirement System of the Government of the Commonwealth of Puerto Rico (ERS) have been rated BBB- by Fitch.

THE lack of employee understanding about tax relief and employer contributions is an opportunity to boost retirement savings, the National Association of Pension Funds claims.

UK - Investment style is going to become an increasing focus for UK pension funds who have suffered from a value bias in their global equities portfolios, according to global asset manager MFS Investment Management.

GLOBAL - IMS selected by Nomura; UK - Government fails on pensions; UK - First State increases focus on infrastructure