News

FINLAND - Finland's State Pension Fund (VER) investments yielded a return of -6.4% in the first half of 2008, compared to 3.4% in the same period of 2007, the fund has announced.

Metlife Assurance has appointed Dan DeKeizer as chief executive of its UK pension liability transfer business.

UK - Norfolk Pension Fund, which oversees retirement provision for some 52,000 employees, has awarded an active currency mandate to Goldman Sachs Asset Management.

The £30bn Universities Superannuation Scheme has taken part in a £605m sale and leaseback property deal with supermarket firm Tesco.

Defined benefit pensions fall further; Pensions in buyout bonanza; Leading British companies to slice dividends as slowdown bites

Balanced pooled funds achieved a median return of -2.3pc in July 2008, latest CAPS figures from BNY Mellon Asset Servicing reveal.

EUROPE - The International Corporate Governance Network (ICGN), which represents the interests of pension funds and investors with US$15trn of assets, has called on the European Commission (EC) to rethink guidelines for limiting auditors' liabilities....

US/AUSTRALIA - The US and Australia have signed a landmark agreement to liberalise rules governing stock exchanges and broker-dealers, allowing them to operate in both jurisdictions without being separately regulated.

NORWAY - The market value of the Government Pension Fund-Global increased by NOK46bn (US$8.5bn) during the second quarter of 2008, stabilising at NOK1,992bn (US$367.3bn), despite negative returns.

Some 180,000 UK employees will be members of pension schemes secured by insurance companies by the end of the year, HSBC Actuaries & Consultants research reveals.