News

Standard Life faces ‘fat cat' protest; RBS investors braced for ABN offer; China ‘health warnings'

INDIA - A total of seven state bodies have made preliminary bids to manage part of India's R17bn (US$400m) government pension fund.

UK - Paul Maloney, national officer of the GMB union, has blasted merger and acquisition activity for damaging pension funds and cited the Pension Protection Fund (PPF), as being part of the problem.

TRUSTEES of the Boots pension scheme have been warned to secure a huge cash commitment from Kohlberg Kravis Roberts before its takeover bid is approved.

NETHERLANDS - Emerging markets and high yield bonds were reportedly the best contributors to the fixed income returns of 0.5% in the Unilever pension fund, 'Progress'.

CHINA - AEGON has acquired almost half of the Chinese mutual fund manager, Industrial Fund Management Company (IFMC), to enable IFMC to expand its activities in the pensions market.

OVER eight-tenths of finance directors are set to inject additional cash into their company pension scheme to slash deficits, research from Prudential shows.

US - CalPERS has flexed its muscles by refusing to support board member elections in companies where it has made a significant investment.

UK - The Universities Superannuation Scheme (USS) has made a significant allocation into the alternative asset market by investing US$200m (£100.7m ) into Partners Group Alternative Beta Strategies.

FINAL salary schemes will be hit with a second wave of closures to new entrants and future accruals, the Association of Consulting Actuaries warn.