News

Asset managers suffered net institutional outflows of £481m in December, latest figures from the Investment Management Association show.

US - The California Public Employees' Retirement System (CalPERS) is to oppose the re-election of seven board members of electronics company Sanmina-SCI Corporation because of unresolved poor stock performance and governance practices.

US - KLA-Tencor Corporation has agreed to pay $65m to settle a shareholder lawsuit involving retirement systems from Louisiana, Philadelphia and Detroit.

FINLAND - Tapiola Pension's investment income has dropped to 4.1% during 2007, down from 6.8% in 2006, despite all asset classes performing positively.

Pensions Action Group campaigner Ros Altmann has urged trustees and administrators to ensure they are doing all they can to speed payouts to wind-up victims.

MP's Pension Pot Top-up; Massive fraud at SocGen jolts credit markets

US - Ohio attorney general Marc Dann has accused Freddie Mac of "intentionally participating in one of the largest housing investment deceptions in modern US economic times", in a lawsuit filed on behalf of the Ohio Public Employees Retirement System...

SCOTTISH LIFE has added four investment managers and 16 funds to its core investment range.

Financial services giant Prudential has betrayed pensioners by reneging on an agreement to raise benefits in line with price inflation, the scheme's retired manager claims.

UK - Almost nine out of ten defined contribution (DC) scheme experts believe employees look for workplace advice on pensions.