News

INCLUDING: CHINA - Gov considers diversification; CANADA - Stelco pensions safer; US - Fees under scrutiny

THE GOVERNMENT has come under renewed pressure to compensate victims of the Equitable Life scandal two months after a European parliament report called for restitution.

RESEARCH by Aegon has revealed a distinct "reality gap" between what people are expecting in their retirement and what they are actually saving.

NETHERLANDS - Dutch pension scheme ABP has hired Morgan Stanley and Kempen & Co as advisers to review the future options for KFN, its offices fund.

NORWAY - The Hordaland County Council (Hordaland Fylkeskommune) has issued a tender for a public service pension product.

US - The former executive of bankrupt Standard Automotive Corporation and former trustees of the company's 401(k) plan have been ordered to pay US$340,000 in restitution to the plan, according to the US Department of Labor.

SWITZERLAND - Partners Group, the Swiss-based alternative asset manager, has predicted a positive outlook for the second half of this year after it released its semi-annual results as of 30 June 2007.

INVESCO Perpetual has been selected by the Royal Society of Chemistry pension scheme to manage an £11m high alpha UK equity mandate.

Draft plans for a user-friendly, online annuity tool are expected to be put forward in time for the government's pre-Budget report.

SWEDEN - Protego Real Estate Investors, which focuses on commercial property investment vehicles and instruments, has opened an office in Stockholm to expand its European operations and offer institutional clients a broader range of markets.