News

INSTITUTIONAL investors have called on the G8 - the world's richest nations - to lay the foundations for post-2012 policy framework on climate change.

THE THORNTON review of pension institutions has recommended combining the Pensions Ombudsman and Financial Ombudsman Service.

AON CONSULTING has hired a fixed income derivative specialist and a senior relationship manager after lengthy careers with investment banks.

ITALY - State Street Global Advisors (SSgA) has appointed Marco Fusco to become the managing director of its business and operations in Italy.

UK - Zurich Assurance has transferred £3.7bn in assets and approximately £3.9bn in liabilities to Swiss Re to focus on its core business of pensions, investments and protection.

POOLED fund of hedge funds achieved median returns of 3.4pc in the first quarter of 2007, latest Mellon Analytical Solutions research shows.

SOUTH AFRICA - The national treasury is said to be expecting a backlash against legislation that has forced companies to refund pension fund surpluses which had been misused, according to reports.

SOUTH KOREA - Morgan Stanley and Credit Suisse have been reportedly named as the National Pension Scheme's (NPS) partners as it aims to diversify its overseas investment portfolio and boost returns.

UK - A new report from the GMB trade union has held the private equity sector responsible for at least £2bn in unfunded pension fund liabilities.

UK - A new platform called BidRoute is set to be launched at the end of this month which aims to create the first automated auction service for portfolio trading.