News

UK - The $1bn (US$2bn) Somerset County Council Pension fund has said it intends to move into the alternate asset space with a £30m allocation to an active emerging markets mandate.

INCLUDING: HONG KONG - FourWinds opens in Hong Kong; AUSTRALIA - van Eyk appoints investment research head; UK - Variable annuities find favour

THREADNEEDLE has launched a long-short hedge fund to focus on Asian equity markets.

Bear Stearns sale sparks global equity and dollar sell-off; Northern Rock set to lose thousands of jobs to earn EU approval; Gold breaks through the $1000 an ounce barrier; Berlin to raise state pensions

UK - The British Medical Association (BMA) has won a case relating to GP pensions, after a High Court judge ruled the government had acted unlawfully.

UK - The Universities Superannuation Scheme (USS) has awarded a US$200m hedge fund replication mandate to State Street Global Advisors (SSgA).

THE £30bn Universities Superannuation Scheme has hired State Street Global Advisors to run a $200m (£99m) hedge fund replication mandate.

US - Over half of public pension funds invest in or are planning to invest in alternative asset classes, according to the Bear Sterns Pension, Endowment and Foundation Services Group.

THOMPSONS Solicitors has introduced online total reward statements for its staff in conjunction with Thomsons Online Benefits.

AUSTRALIA/ NETHERLANDS - Hermes Equity Ownership Services (EOS) has been awarded three mandates totalling £1.76bn (US$3.56bn).