News

NETHERLANDS -PGGM has entered into a risk-sharing agreement with Citigroup (Citi) on a €2.5bn portfolio of emerging market credit exposures.

US - The Sheet Metal Workers' National Pension Fund has filed a law suit against Beazer Homes, claiming the company breached its fiduciary duties by wasting assets and damaging its reputation.

GLOBAL - The new chairman of the Enhanced Analytics Initiative (EAI), Peter Scales, has cited asset managers as its next recruitment target.

UK - Avon pension fund could become lead plaintiff in a US class action lawsuit against GlaxoSmithKline.

US - The Pennsylvania State Empoyees' Retirement System (SERS) delivered an investment return of 11.4% in the first six months of 2007, and 22.2% over the 12 month period ended 30 June.

EUROPE - Global Pensions has gained exclusive details concerning the launch of a new insurance solution for the pension industry which aims to reduce risk and volatility.

The Actuarial Profession today issued a briefing note explaining how with-profits policies work.

Government plans to spend £11.5m to teach pension planning in schools has been welcomed by educational charity Life Academy.

US fund sends £286m to Britain; UK pension funds vie to lead court action over GSK drug; Northern Rock given emergency bail out by Bank; Private equity groups foresee slow down in deals as credit sources dry up; Insurer spreads its funds to cut bank crisis...

Group self-invested personal pensions can be "dangerous" if they are not provided with the right advice, Scottish Widows warns.