News

UK - The government has avoided a major backbench rebellion over pensions by promising more public money to restore the savings pots of people who lost out when their companies went bust.

AUSTRALIA - Queensland Investment Corporation (QIC) has awarded an Aus$390m (US$341m) emerging markets portable alpha mandate to BlueBay Asset Management.

CANADA - Several large pension plans have reportedly called for the "30% rule" limiting their influence over acquired companies to be scrapped.

BESTRUSTEES has hired Richard Stroud, the former chief executive of The Pensions Trust, as one of its independent trustees.

THE ALTERNATIVE Investment Management Association has launched an investor steering committee for the hedge fund industry.

WEST MIDLANDS Pension Fund has appointed ING Real Estate Investment Management for a £560m advisory mandate.

Private equity escapes statutory scrutiny; Core inflation rise sparks interest rate fears; Merrill Lynch tries to calm nerves over debt markets

US - State Street Corporation and JPMorgan Chase have released strong results for the second quarter of 2007.

UK - The London Borough of Newham Pension Fund has awarded its first infrastructure mandate to Babcock & Brown, by allocating an initial £30m (US$61.4m) to the asset class, following a detailed study carried out by Hewitt.

INCLUDING: UK - AXA multi-manager separation; US - PBGC takes on more; US - Another DB closure