News

SWEDEN - The SEK1.3bn (US$216m) Landstinget Västmanland pension fund is in the process of divesting from hedge funds currently worth around 3% of total assets, according to MandateWire.

CANADA/NZ - Canada Pension Plan Investment Board (CPPIB) and its New Zealand subsidiary, NZ Airport NC (NZANC), are disputing a claim by Auckland Airport for expenses incurred in responding to the pension fund's failed partial takeover bid.

MERCER has hired Daniel Blass as head of client services in its investment management business.

AUSTRALASIA - Australia and New Zealand have proposed practical options for improving the portability of private retirement savings between the two countries.

EMPLOYERS could face a surge of retrospective age discrimination claims relating to occupational pension schemes after two European court rulings, a law firm warns.

US/CANADA - The Ontario Teachers Pension Plan (OTPP) has filed a lawsuit against American International Group (AIG) claiming it made false statements over the financial security of its credit default swaps (CDS).

US - Legislation in the US prohibiting the use of 401(k) plans to prevent retirement saving 'leakage' has gained industry support.

AUSTRALIA - Australian superannuation funds bias towards domestic equities is set to come to an end, as changing market conditions force them to look internationally.

US - Legislation limiting the type of structured products that can receive ratings from credit ratings agencies has been introduced in the US this week, in a bid to restore confidence to the market.

EUROPE - European pension funds drastically accelerated the outflow from equities during the second quarter of 2008, a report by financial information company MandateWire has found.