News

UK - The suggestion by Goldman Sachs Asset Management (GSAM) of using a liability driven investment (LDI) strategy as a way to control the Pension Protection Fund (PPF) levy has met with mixed responses.

SOUTH KOREA - The National Pension Service (NPS) has confirmed it is to invest almost US$22bn over the next ten years as it seeks to buy into energy and mineral resources.

WEIR GROUP has agreed to sell off part of its £550m pension scheme to Legal & General.

INCLUDING: UK - Funds not measuring performance; UK - Crum joins Hewitt; UK - ACE launches Elite

THE BOARD for Actuarial Standards is set to hold meetings in London and Edinburgh to discuss its proposals for a new framework for technical actuarial standards.

Managing Partners Limited is set to launch a property fund to take advantage of market volatility.

UK - P&O has partially transferred its pension fund to Paternoster in a deal worth £800m.

UK - Middlesbrough Borough Council (MBC) has re-awarded the global custody mandate for its pension fund to Northern Trust. There were a total of five bids for the contract.

US - The Pension Benefit Guaranty Corporation (PBGC) and Swedish-owned Electrolux Home Products have reached a US$77.5m agreement to protect retirement benefits of more than 2,350 former employees.

Paternoster takes over £800m of pension liabilities from P&O; Ministers prepare to nationalise Northern Rock