News

GLOBAL - Credit Suisse Group had a record net income of CHF7.2bn (US$6.2bn) for the first nine months of 2007, however, its asset management division suffered a sharp decline of assets under management (AuM).

An online portfolio trading auction service that aims to slash scheme costs and improve investment efficiency has gone live today.

Schemes and trustees are not doing enough to ensure their fund managers are getting the best price on share trades, managers believe.

Schemes are not doing enough to ensure fund managers are getting the best price on share trades, an exclusive survey by Professional Pensions reveals.

NEW ZEALAND - Lack of industry experience and a worsened debt rating thwarted the Canada Pension Plan Investment Board's (CPPIB) attempt to buy into Auckland Airport.

US - Maximum monthly payments would rise to US$51,750 a year for pensioners in under funded schemes covered by the Pension Benefit Guaranty Corporation (PBGC), according to the latest guidelines published by the group.

UNITE has confirmed that its shop stewards at BAA have called for a strike ballot over plans to close the firm's final salary pension scheme to new employees.

US - Industry standard data analysts, Trepp have partnered with Wilshire to provide exclusive data and cash flow models for the Wilshire Axiom fixed income analytics division.

THE NETHERLANDS - The creation of a general pensions institution (Algemene Pensioeninstelling - API) should ensure the country's position as "pensions champion" according to a report by Dutch industry figures.

THE Pension Protection Fund has appointed Peter Walker as director of its newly formed delivery directorate.