News

The Pension Protection Fund is looking to appoint up to five investment managers to oversee its global equity allocation.

UK - The £1.7bn (US$3.34bn) Pension Protection Fund (PPF) has said it is looking for a panel of investment managers to oversee its global equity strategy.

GLOBAL - The volatility in global equity markets will test transition managers' trading capabilities, shaking out the good managers from the lucky managers, according to Mercer Sentinel Group.

US - The California State Teachers' Retirement System (CalSTRS) has announced it is looking for an accounting consultant team.

US - An amendment to legislation which would waiver the 10% early withdrawal penalty for US homeowners who use retirement savings to avoid foreclosure will still be pursued, the office of US Senator Bill Nelson confirmed to Global Pensions.

SOUTH KOREA - The National Pension Service, the world's fifth largest pension fund with US$200bn in assets, has said it is in talks with a couple of foreign banks over stake purchases and will also buy as much as 9trn Korean Won (KRW) ($8.9bn) of South...

ROMANIA - Fondul Proprietatea has announced a list of investment managers hoping to take part in the management of the scheme.

AUSTRALIA - Senator Nick Sherry, minister for superannuation and corporate governance, is to deliver a keynote address at the Global Pensions Westpac Institutional Bank Sydney Currency Forum.

US - Pension fund investment consultants risk being sued for failing to consider strategies which only later became common if a lawsuit against Mercer gains traction.

Innovation in investment has helped pension schemes weather market turbulence and return to deficit levels similar to a year ago, Aon Consulting says.