News

Prudent firms ‘to be hit by new rules'; Final-salary deficit warning; Renewed volatility dents hopes for calmer markets; Sainsbury shares slip after concerns rose over Delta Two deal

INCLUDING: UK - New manager at Morley; US - Commodity index to underlie ETF; IRELAND - New head of compliance at Pensions Board

LONDON Underground workers have voted overwhelmingly for strike action over collapsed maintenance firm Metronet's failure to guarantee pensions and jobs.

SOLENT Capital Partners has warned it may have to sell off assets from its Mainsail II fund following the US sub-prime crisis.

GLOBAL - Industry analysts have debated the usefulness of quantitative strategies and their ability to cope with the current market volatility.

US - The Pension Benefit Guaranty Corporation (PBGC) has met with Delta Air Lines to discuss future plans for the company's stricken pilots' pension scheme.

FIDELITY INTERNATIONAL has made the first of a series of purchases for its planned pan-European real estate fund - set to be launched later this year.

THE £2.3bn Staffordshire County Council pension fund is looking to appoint a manager for its active currency portfolio.

CANADA - The National Bank promised it would acquire C$2bn in Asset Backed Commercial Paper (ABCP) to relieve client uncertainties.

EUROPE- Pioneer Investments has appointed Mats Langensjo to the newly created role of head of institutional business for the Nordic region.