News

GLOBAL - Fortis Investments increased its assets under management by €16bn, or 15%, over the course of 2006 to end at €121bn.

STATE Street Global Advisors has launched a "130/30" fund for UK institutional investors.

US - Board member Paul Peltier has resigned from the US$10.9bn School Employees Retirement System (SERS) of Ohio.

ABERDEEN Property Investors has hired a seven-strong team from Credit Suisse Asset Management to boost its UK property business.

FORMER London Pensions Fund Authority chief executive Peter Scales has joined EPIC Investment Advisors as a member of its investment panel.

GLOBAL - Pension fund demand for hedge fund indices is minimal and the advent of replicator funds could deal a death blow to them, some of the world's largest consultants have claimed.

UK funds shift to European property; Foreign & Colonial buys into yen carry trade; Prudential revamp likely to disappoint shareholders

EUROPE - The debate on the blurring of boundaries between asset managers and consultants over the issue of asset liability modelling (ALM) has intensified, with some consultants openly accussing asset managers of encroaching on their turf.

US - Kentucky governor Ernie Fletcher said he was prepared to call a special session if the two houses in the capitol could not reach an agreement over pension reforms.

Negative news stories about pension systems in California have dented members' belief in secure retirement, with 68% of respondents to a California Teachers Retirement System (CalSTRS) poll declaring they were less confident about the likelihood of secure...