News

Pension funds' allocation to European private equity funds dropped by more than 50% year on year in 2007, data by the European Private Equity and Venture Capital Association (EVCA) has shown.

US - A small city on the Californian coast could be the first to pull out of the California Public Employees' Retirement System (CalPERS), citing its inability to pay increased contribution costs.

FRANCE - The €35bn (US$54.7bn) Fonds de reserve pour le retraite (FRR, France's reserve retirement fund) has placed four mandates out to tender.

The Australian superannuation model has received an upbeat assessment from a former director of the Reserve Bank of Australia (RBA).

UK - Improvements to the biology of aging could affect the longevity funding issue for defined benefit (DB) schemes a panel discussion organised by Punter Southall found last week.

UK - Almost half of defined benefit (DB) schemes have shifted their asset allocations from equities to bonds over the past 12 months, data from Aon Consulting has revealed.

AUSTRALIA - Investment in China has been opened up to superannuation funds with an agreement between the Hong Kong Securities and Futures Exchange and Australian Securities and Investment Commission (ASIC).

GLOBAL - Investors have backed calls for the reform of credit ratings agencies (CRAs), a survey by the CFA Institute has found.

AUSTRALIA - Australians will be given access to benefit projections as part of the superannuation system, under a plan revealed this week by superannuation and corporate law minister Nick Sherry.

HEWITT ASSOCIATES has appointed Ian Bailey to boost its investment consulting team.