News

AXA Investment Managers has reshaped its institutional business team following a strategic review.

INCLUDING: AUSTRALIA - Pioneer appoints sales and distribution head; US - State Street launches private equity index; NETHERLANDS - F&C strengthens local distribution

UK - AXA Investment Managers has announced a restructure of its institutional business and the appointment of Fidelity International's Simon Cartwright as head of global consultant relationships.

UK - The Occupational Pensions Trusts (OPT) has added two industry heavyweights to its independent trustee board.

Trustees of the Southern Electric Group of the Electricity Supply Pension Scheme have appointed Cardano to provide investment advice.

IRELAND - The trustees of the Arnotts Staff Pension Fund are reportedly set to split €100m in surplus between the department store's former and current staff and the company.

SWEDEN - The value of the AP7 fund has fallen by SK5bn (US$788m) to SK80bn ($12.6bn) as a result of the US sub-prime crisis and the credit crunch.

IRELAND - The dispute between unions and the Bank of Ireland over the scrapping of its defined benefit scheme is over after the bank accepted Labour Relations Commission proposals last week.

US - The Supreme Court is set to hear a case today which could potentially shake up pension protection law.

CANADA - The federal government wants to convince Canadian pension funds to invest in the country's infrastructure, in order to capture some of the billions being placed overseas.