News

US - The long running New York Life Insurance class action case has been brought to a close with an order for the company to pay US$14m compensation to the plaintiffs.

UK - West Sussex County Council has increased its allocation to property from 8.2% to 10%.

THE British Medical Association has taken the government to the High Court over its decision to "cap" GPs pensions.

THE government must give consumers more choice on how they take their retirement income, the Investment Management Institute urges.

THE first six pension schemes backed by solvent employers have been admitted into the Financial Assistance Scheme.

US - Former SEC chairman Harvey Pitt and LocateStock founder John Tabacco are backing the launch of LendEX, a new securities lending platform that promises to generate higher revenues for pension funds than traditional custodial programmes.

INCLUDING - RUSSIA - UBS appoints Russia CEO; EUROPE - Nedergaard quits Northern Trust; EUROPE - ETF Securities expands team; ASIA - Head of EAFE at Threadneedle; UK - Pension funds help meet new reporting standards; AUSTRALIA - ASIC prosecutes fake...

CANADA - Canadian pension funds have increased their exposure to foreign assets, but left themselves open to currency risks, a report from Greenwich Associates has revealed.

GLOBAL - A third of pension funds and investors plan to have over 10% of their portfolios invested in commodities over the next three years, according to a survey by Barclays Capital.

UK - Almost three quarters (71%) of pension funds in the UK do not actively pursue environmental issues, but 94% believe they could do more, according to research from eShare.