News

NETHERLANDS - Hermes is calling for ASM International's (ASMI) extraordinary general meeting to be delayed, following an indicative offer for the Dutch semiconductor equipment maker by Applied Materials (AMAT) and Francisco Partners (FP).

GRANT THORNTON has hired Len Fawke in a bid to strengthen its pensions advisory team.

FORCING or encouraging workers not to join an occupational pension is set to become illegal if an amendment to the Pensions Bill is passed.

US - The California State Teacher's Retirement System (CalSTRS) has launched a national search for a director of global equities, following Elleen Okada's decision to depart.

JAPAN - Barclays Global Investors (BGI) reported a 160% increase in the number of pensions mandates last year, rising to 381.

Buyout specialists expected to pitch for £20bn-worth of funds; Watchdog's ruling lifts lid on hedge funds' positions; Institutional investors move to seize control of Bradford & Bingley; Daiwa turns the tables with derivatives foray

UK - The government has moved to clampdown on companies that force or encourage workers not to save in a workplace pension.

EUROPE - The EUR6.4bn (US$9.9bn) German church pension fund is looking to appoint a master KAG - a multi-manager cum administration firm specific for Germany - as well as a custodian bank, according to MandateWire.

US - The $500m senior pension funding bonds issued by the Employees Retirement System of the Government of the Commonwealth of Puerto Rico (ERS) have been rated BBB- by Fitch.

THE lack of employee understanding about tax relief and employer contributions is an opportunity to boost retirement savings, the National Association of Pension Funds claims.