News

US - The California Public Employees' Retirement System (CalPERS) has thrown its weight behind twice the amount of shareholder proposals in the fiscal year 2006-7 than the previous one.

THE GOVERNMENT Actuary's Department decision to limit the withdrawal of "passports" for the Principal Civil Service Pension Scheme following changes to the scheme has been backed by lawyers.

FIDELITY INTERNATIONAL has moved forward plans to build a Scottish-based UK equities team by appointing David Urch as a second portfolio manager.

UK - Barclays Global Investors (BGI) has lost a £2bn global equity mandate from Barclays Bank UK Retirement Fund (BBUKRF) because it could not provide the fund with the appropriate service in selecting managers.

INCLUDING: US - CalPERS adopts principles-based approach for emerging markets; UK - Wright choice for State Street Corporation; UK - Watson Wyatt boosts team; China - Prudential raises stake in Chinese venture

MERCER has appointed Zillah Bingley as head of its UK mergers and acquisitions consulting business in a bid to significantly expand its service in the area.

US - Institutional investors have dramatically reduced commission payments for third-party research products, or so-called "soft dollar" allocations, according to research from Greenwich Associates.

HONG KONG - As much as HK$126bn in pension fund cash will be up for grabs when employees are given the right to freely choose their Mandatory Provident Fund (MPF) investment companies.

THREADNEEDLE has expanded its presence in both the hedge fund and emerging market sector with the acquisition of Convivo Capital Management.

INCLUDING - OTPP firm over BCE repricing; Indian government criticised.