News

US - The Dow Jones Wilshire 5000 fell -0.86% in July extending its year-to-date losses to -11.69%, despite a 4.48% rally since hitting its year-to-date low on 15 July.

AUSTRALIA - Superannuation fund call centres are "the weaker link" in super funds' overall marketing strategy, research by retirement services administrator CitiStreet has revealed.

US - The US Treasury has ruled companies cannot transfer their pension plans to an unrelated firm under current law, but has put forward a framework of principles to guide the development of legislation to allow such transactions.

UK - Strike action by professional staff of British Airline Pilots Association (BALPA) has been called off after last minute negotiations reached a settlement, although there are no changes to the contentious pension reforms.

AUSTRALIA - The Australian Securities and Investments Commission (ASIC) has outlined its key areas of concern for the coming months, in light of the current global economic downturn.

INCLUDING: CHINA - New Star appoints associate director; UK - HSBC renews mandate with Carmarthenshire; GLOBAL - IASB publishes amendments proposals; UK - BNY sole custodian to Co-operative Group; UK - PMI supports regulator's proposals on record keeping....

US - Global Pensions invites readers to save the date for Currency Management Forum New York 2008 and Transition Management New York Autumn 2008, both being held on 8 October at Le Parker Meridien.

US/JAMAICA - The US$10.8bn Public Employees Retirement System of Idaho (PERSI) has signed a US$40m deal in partnership with the Koll Company to take over a California business park.

Carmarthenshire County Council has reappointed HSBC Securities Services to provide global custody and cash management services to its £1.1bn pension scheme.

The government must honour its commitment to enforcing a minimum of 50pc member-nominated trustees on scheme boards, the Occupational Pensioners' Alliance urges.