News

GLOBAL - Credit Suisse has lost its entire European transition management team following a major restructuring which will see execution of deals shifted to New York.

AROUND 90pc of defined contribution members opt for ineffective default funds, Watson Wyatt says.

UK - Oxfordshire County Council has reappointed BNY Mellon as custodians of its £1.02bn (US$2bn) pension fund.

AUSTRALIA - There should only be a "flurry" of class action lawsuits despite equity market swings which saw the Australian Stock Exchange lose nearly 12% of its value to date this year, according to the head of a litigation funding service.

US - Several thousand jobs and a US$2.1bn bump to the state GDP have been created through pension benefits paid by the Illinois Teachers' Retirement System (TRS).

AUSTRALIA - The third largest institutional funds manager QIC has shaken up its asset management structure by separating its alpha and beta departments.

THE Universities Superannuation Scheme has invested in Climate Change Capital as part of a £56m financing round.

IRELAND - Despite a marked improved performance in April, trustees have continued to focus on the long term according to the Irish Association of Pension Funds (IAPF).

INCLUDING: GLOBAL - PF adding to rising food prices, UK - Pension fund expense rising, UK - Women lose pension, NEW ZEALAND - KiwiSaver embraced, US - TRS add more property

UK - With the Treasury putting UK unfunded public sector occupational pension liabilities at £800bn in 2007, calls have been renewed for the government to implement a proposal that could simultaneously plug the deficit and reduce spiralling costs of private...