News

SETTING up personal accounts has already cost the taxpayer £6.6m in consultancy fees, government figures reveal.

Fears spark global plunge; BP to take pensions holiday; Widows limits pensions exodus; Swiss Re eyes Friends

UK - Gains made by FTSE 100 pension funds over 2007 were wiped out yesterday in the greatest equities crash since 9/11 2001, according to some UK consultants.

SOUTH AMERICA - The Bank of New York Mellon Corporation has completed the acquisition ARX Capital Management, an independent asset management business headquartered in Rio de Janeiro, Brazil.

UK - Pension funds may finally be reaping the benefits of currency alpha products, according to BNY Mellon Asset Servicing.

THE Hedge Fund Working Group has published its best practice standards for hedge fund managers

NETHERLANDS - PGGM's CIO for portfolio management, Piet Roelandt, has announced he will step down in May to pursue an alternative path in financial markets.

UK - The Cabinet Office Civil Servants Pension Scheme (COCSPS) has reappointed Hewitt as its actuarial consultant.

AUSTRALIA - QIC has signed the United Nations Principles for Responsible Investing (PRI), pledging to incorporate environmental, social and corporate governance (ESG) issues in the development of its investment strategies.

PENSION schemes suffered the largest ever single daily increase in FRS17 deficits yesterday as global stock markets plunged, consulting firms calculate.