News

AUSTRALIA - Superannuation funds should beware the Australian dollar as the US currency begins to strengthen in 2008, according to a Russell Investment Group outlook.

Smiths Group sells part of pension scheme to Legal & General; Fund managers prepare for portable DC pensions; Norway's pension fund to diversify; Pension pooling gets regulatory boost

NORWAY - Property is becoming an increasing focus for pension funds in Norway as they seek to further diversify their portfolios, following a change to regulations earlier in the year.

GLOBAL - Experts have questioned the usefulness of research by the University of Cambridge which shows a direct correlation between levels of testosterone and cortisol present in traders' bodies and the profits they make.

GLOBAL - Tough markets, blurring lines between investment product providers and the continued polarisation of alpha and beta present a significant threat to asset managers, according to research from McKinsey & Company.

DENMARK - Public and media pressure is increasingly forcing Danish pension funds to focus on social and ethical concerns in their investments.

NETHERLANDS - A Bureau Bosch survey has shown that over half the Netherlands' Ä1.1trn (US$1.7trn) in pension fund assets were managed by foreign companies in 2007, with Ä173bn in a fiduciary, multi-manager or overlay capacity.

PRIVATE equity firm YFM Group has increased its share in pensions recruitment firm Darwin Rhodes £1.7m.

UK - The Pensions Regulator (TPR) has been urged to address issues in its conflicts of interest guidance which it has been claimed could push the UK further towards becoming a defined contribution (DC) nation.

SWEDEN - The Ethical Council for Sweden's first to fourth AP funds has named 13 companies it is urging to address environmental or social issues.