News

PIMCO has launched two credit funds for institutional investors in a bid to capitalise on turmoil in bond markets.

US - Mercer has called on the Financial Accounting Standards Board (FASB) to delay the introduction of changes to pension fund reporting and disclosure requirements.

Pension funds and institutions are being urged by campaigners to divest from FTSE 100 mining company, Vedanta, as it plans to mine a tribal area of India.

MEXICO - Pension reform and a strong economy could see an annual inflow of up to US$10bn of domestic institutional money into the Mexican stock exchange, creating opportunities for global investors.

GLOBAL - Credit Suisse has lost its entire European transition management team following a major restructuring which will see execution of deals shifted to New York.

AROUND 90pc of defined contribution members opt for ineffective default funds, Watson Wyatt says.

UK - Oxfordshire County Council has reappointed BNY Mellon as custodians of its £1.02bn (US$2bn) pension fund.

AUSTRALIA - There should only be a "flurry" of class action lawsuits despite equity market swings which saw the Australian Stock Exchange lose nearly 12% of its value to date this year, according to the head of a litigation funding service.

US - Several thousand jobs and a US$2.1bn bump to the state GDP have been created through pension benefits paid by the Illinois Teachers' Retirement System (TRS).

AUSTRALIA - The third largest institutional funds manager QIC has shaken up its asset management structure by separating its alpha and beta departments.