News

NEW ZEALAND - The NZ$11.9bn (US$8.1bn) New Zealand Superannuation Fund has defended its position as a responsible investor despite criticism over its investment in nuclear weapons manufacturers.

US/CANADA — The private investment arm of Ontario Teachers' Pension Plan (OTPP) and Ares Management are to acquire General Nutrition Centers (GNC) in a deal worth US$1.65bn.

US - The Indiana Public Eemployees' Retirement Fund (PERF) has set up an emerging managers programme to seek out investment opportunities with small Indiana firms owned by women and minorities.

FRIENDS Provident has added 25 new funds to its corporate pension fund platform - increasing the total numper of fund choices to 83.

US - The US$225bn California Public Employees' Retirement System (CalPERS) has dismissed a report on "rapidly escalating" pension costs as "a highly contrived, biased study that fails to show the big picture".

GLOBAL - Investec Asset Management has launched an actively managed currency fund targeting pension funds and other institutional clients.

IRELAND - The €4bn Bank of Ireland (BOI) Group pension fund is considering, as part of a strategic review, a foray into hedge funds and private equity through fund of funds later this year.

ROYAL Mail is to close its final salary pension scheme to new members in a bid to tackle its £6.6bn fund deficit.

THE INFORMATION Commissioner has ordered two local authority pension funds to reveal details about their private equity holdings despite fears disclosure risked jeopardising future investments.

Royal Mail to close final salary pension; Bank signals that inflation is under control