News

UK - Pension Insurance Corporation (PIC) been selected to buy out the £42m (US$74.7m) UK Can Pension Plan, in a deal which will see it provide greater benefits than currently paid by the Pension Protection Fund (PPF).

GLOBAL - Total assets of the world's largest 300 pension funds grew by over 14% in 2007 to around US$12trn, according to Watson Wyatt.

IRELAND - Irish pension managed funds have seen a positive return of 2.4% for the month of August, according to Hewitt Associates.

Lancashire County Council has gone out to tender for a UK and global equity enhanced indexation manager for its £3.6bn pension fund.

FUND manager Hermes has come under fire from one of its biggest clients, the California Public Employee's Retirement System.

GAM has appointed Mark Hawtin as investment director.

INSTITUTIONAL sales saw total outflows of around £1.9bn in July, latest figures from the Investment Management Association show.

TWO-THIRDS of companies are planning to reduce scheme contribution rates as they find it increasingly difficult to meet cash obligations, Aon Consulting warns.

THE fifth judge for the Specialist and Alternative Investment Manager Awards 2008 has been confirmed. He is Watson Wyatt senior investment consultant Paul Jayasingha.

UK - More than two thirds of companies are planning to slash contributions towards final salary pension scheme deficits, Aon Consulting warns.