News

UK - Pest control firm, Rentokil Initial, has awarded a £340m mandate for UK corporate bonds to Standard Life Investments.

EUROPE - The European Commission's acceptance of proposed amendments to the portability directive has been criticised in some legal circles as a backward step.

UK - Having already blasted the private equity sector for creating unfunded pension liabilities, the GMB trade union has now slammed changes to capital gains tax rates.

LATIN AMERICA - A Chilean investment fund and a number of Colombian pension funds have bought into a local power plant.

US - The California Public Employees' Retirement System (CalPERS) has urged fellow Sara Lee shareholders to back its resolution pushing for the right to amend company bylaws.

NEWS International has appointed FOUR Capital Partners to manager a £15m specialist UK equity mandate.

INCLUDING: AUSTRALIA - Gabriel departs UniSuper; UK - Citizen advice fund deficit worsened; US - PBGC sorts hospital scheme

AVON Pension Fund has achieved a UK first by being appointed lead plaintiff in a US class action lawsuit against GlaxoSmithKline.

RENTOKIL Initial Pension Trust has awarded a £340m bond mandate to Standard Life Investments.

UK - Alistair Darling, chancellor of the exchequer, released the UK government's Pre-Budget Report yesterday outlining reforms to the state second pension scheme (S2P) and corporate tax allowances for company pensions.