News

US - Pension funds are amongst those involved in the President's Working Group (PWG) debate on developing best practice guidelines for hedge funds.

US - Washington State Investment Board (WSIB) has dropped State Street Corporation in favour of JPMorgan as custodian and securities services provider for US$82bn in 16 retirement and 21 other public funds.

GEC's pension trustees at odds with Truell over £400m takeover; Pension schemes still have much further to travel; Delta Two in pension talks; Pensioners strip to expose ‘Labour spin'

TELENT, the rump of the former GEC conglomerate that became Marconi, has agreed to a £400m takeover by a subsidiary of Guernsey-based Pension Corporation.

NETHERLANDS/US - ABP and State Street Global Advisors (SSgA) have acquired a minority interest in Sectoral Asset Management through their strategic venturing partnership, State Street Global Alliance.

NORWAY - Norges Bank Investment Management (NBIM) which manages the US$328bn Government Pension Fund - Global has appointed a new head of corporate governance.

UK - The Pensions Regulator has issued its first analysis of recovery plan data received under the Pensions Act. The data was supplied by schemes in deficit and covers their plans to return to surplus.

FRANCE - Prime minister Fillon reaffirmed his commitment to align pension benefits for all French citizens by 2012.

UK - Pension funds are increasingly drawn to using derivatives to hedge risk, according to a survey by Watson Wyatt.

UK - Pension fund buyout firms must win some business soon or risk imploding, according to a senior figure at the newly launched Occupational Pension Trust (OPT).