News

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...

EUROPE - Benefit cuts could be the only way for pension funds to survive Solvency II legislation, according to Allianz Global Investors (AllianzGI).

GLOBAL - Following the implementation of a 130/30 fixed income mandate at CalPERS, the CIO of Baring Asset Management has predicted the growing US trend for short extension funds in bonds will cross the Atlantic.

FINLAND - Finnish local government pensions institution, KEVA, and insurance company, Etera, have allocated to private equity.