News

THE number of the UK's biggest schemes selecting private equity, real estate and hedge fund managers reached record levels last year, Watson Wyatt data reveals.

STATE Street Global Advisors is set to launch a range of diversified growth strategies in a bid to provide a default option for defined contribution schemes.

US - The Public Employee Retirement System of Idaho (PERSI) lost almost US$19m in January, contributing to an overall loss of $181m for the fiscal year to date.

NEDGROUP Investments has launched a fund of hedge funds for institutional investors in a bid to provide access to investments uncorrelated to equity markets.

AVIVA is set to combine its asset management businesses into one globally integrated firm - Aviva Investors - from September.

UK - Leeds University is looking for an investment manager to oversee an £80m (158.7m) UK and overseas equity mandate.

US - The US$35bn Pennsylvania State Employees Retirement System (SERS) posted a 17.2% return on investments for 2007, almost double the average return for the nation's largest pension plans.

FRANCE - Almost two million people have signed up for the common retirement savings plan Plan d'épargne retraite populaire (PERP), according to the latest figures released by the French government.

GLOBAL - Aviva has revealed plans to combine its asset management businesses to create a globally integrated group to be known as Aviva Investors.

Poor governance reduces profits, says ABI; UK faces 'real risk of high inflation'; Private equity pioneer says 'golden age' will return