News

NETHERLANDS/NORDICS - Increasing allocations to emerging markets will be a priority for three-quarters of large pension funds in the Nordics and Netherlands over the next three years, according to Nomura Asset Management.

Schemes that failed to diversify assets or implement liability driven investment strategies face making "hefty" increases in company contribution rates, Hymans Robertson warns.

US - Republican presidential nominee John McCain has announced further plans to help retirees, proposing a maximum tax rate of 10% for money coming out of IRA or 401(k) plans.

Public sector pensions are still three times more valuable than most private sector arrangements despite government reforms, the Pensions Policy Institute says.

CHINA - Sovereign wealth fund China Investment Corporation (CIC) has denied reports it incurred massive losses through an investment in the Reserve Primary Fund.

SWITZERLAND - UBS and the Swiss National Bank (SNB) have entered into a US$60bn agreement to "materially de-risk and reduce" UBS' balance sheet with a transfer of illiquid securities to a separate fund.

UK - Public sector pensions are still more valuable than most private sector pensions even after government reforms, the Pensions Policy Institute (PPI) says.

ITALY - Consulting firms Mercer and Tesi have merged to create one of the country's largest human resources consultants.

SOUTH KOREA - South Korea's National Pension Service, the nation's biggest investor, said it's in talks to attract a further US$5bn in foreign capital to invest in domestic assets following similar investments.

INCLUDING: US - Committee looks at financial crisis impacts; GLOBAL - SSgA appoints global CIO; US - Hedge fund index down 6.55%