News

GLOBAL - Most pension funds investing in private equity are worried about 'strategy drift' affecting their managers' performance.

AUSTRALIA - ING Investment Management (INGIM) has lost four members of its 20 strong Australian team, including directors Paul Cuddy and Mark East.

INCLUDING: US - Fed concern over inflation risk; PHILIPPINES - Pension fund bill passed; US - Detroit funds fight Yahoo

US - The New York State Common Retirement Fund and a private equity company have committed US$2m to a state owned business.

XAFINITY PAYMASTER has appointed Matt Pittman to the new role of director of operations in a bid to expand its third-party administration business.

Banking giant HSBC is set to make changes to its defined benefit pension scheme leaving staff in a "precarious financial situation", union Unite says.

US - The California Public Employees' Retirement System (CalPERS) has revealed it had US$900m invested in LandSource Communities Development LLC, the real estate partnership which filed for chapter 11 bankruptcy protection this week.

THE trustees of the Manweb group of the electricity supply pension scheme have appointed Mercer to provide investment consulting services.

BUCK CONSULTANTS has hired Chris Evans as a senior consultant in its health and welfare team.

INCLUDING: US - AIG names senior vice president; UK - Buck Consultants appoints Chris Evans; GERMANY - Heidelberg Pension Trust chooses currency management; UK - B&CE Benefit Schemes appoints Frank McCann