News

AUSTRALIA - The government will continue to allow superannuation as part of a worker's award conditions, overturning a previous decision to phase them out in June 2008.

350,000 may have to delay retirement; Top Northern Rock regulator to leave FSA; Fed cut gives UK shares a lift

UK - Lothian Pension Fund has reappointed Standard Life Investments to manage a segregated property portfolio valued at £350m (US$699m).

GLOBAL - Northern Trust has enhanced its investment compliance monitoring capabilities for institutional asset servicing and wealth management clients globally.

GLOBAL - The California State Teachers' Retirement System (CalSTRS) and the North Carolina Retirement System are among shareholders who have pressured companies to address business challenges posed by climate change.

MIDDLE EAST - BNP Paribas Investment Partners (BNPP IP) and the Saudi Investment Bank (SAIB) have formed an asset management firm in the Kingdom of Saudi Arabia.

US - The shock US$236m fire-sale of Bear Sterns bank to JPMorgan earlier this week has led to substantial losses among pension funds holding Bear Sterns stock.

MARTIN CURRIE is to enter the fund of hedge funds market with the launch of its Omnium fund in April.

NORTH Yorkshire County Council has gone out to tender for a actuary for its £1.2bn pension fund.

JUST RETIREMENT has announced its interim results for the six months ended December 31 2007.