News

INCLUDING: GLOBAL - Hedge fund code fails to gather support; US - Retirees 'afraid' to spend retirement investments; UK - Airport chaos threatened

US - Tobacco investing has been thrown back into the spotlight, following reports that the California State Teachers' Retirement System (CalSTRS) is considering putting money back into the industry.

WRAGGE & CO has appointed Paul Carberry as a director in its pensions practice.

GLOBAL - The "explosion" in cross-border capital flows witnessed as institutional investors move away from their traditional home bias has caused currency valuations to be severely "stretched", according to one expert.

DENMARK - PFA Pension plans to increase its direct allocation to hedge funds, following its recent investment worth around DKK135m (US$28.5m).

SWEDEN - Alpha and beta separation is continuing to be a growing trend among pension funds, with the latest announcement that Sweden's SEK225bn (US$37.5bn) AP3 fund has restructured its asset management operations.

PORTUGAL - Deutsche Bank is to offer custody and related services to Portuguese pension funds.

CANADA/ITALY - The CAN$30bn (US$29.4bn) Hospitals of Ontario Pension Plan (HOOPP) and two other large investors have acquired 85% of Italian motorbike manufacturer Ducati.

AON CONSULTING has appointed Sarah Zambonini in a bid to expand its investment practice in the south-west.

Delta deal secures final salary schemes; Capitalworks Investment Partners to launch sub-Saharan African property fund; European banks squeezed harder than US rivals