News

FINLAND - The State Pensions Fund (VER) posted a return of 7% over 2006, with assets totalling over €10bn at year end.

CANADA - The Office of the Superintendent of Financial Institutions (OSFI) said it had "no concerns" with the participation of Canadian financial institutions in hedge funds.

US - CalSTRS has reached a settlement of $46.5m with Qwest Communications, a telecommunications company that lost shareholders over US$1.6bn by artificially inflating its stock price in 2001.

US - Alaska state governor Sarah Palin has requested US$12m from the legislature to sue Mercer Human Resource Consulting over the state's multi-billion dollar pension deficit.

"ENORMOUS" unexplained variations in actuarial valuations are leading to swings in liabilities of as much as 20pc, research by PricewaterhouseCoopers reveals.

PENSION fund deficits for the FTSE 100 stand at £31.8bn - the lowest levels since 2002, new figures reveal.

US - Thomas L. Elliott has joined Mercer Human Resource Consulting as chief operating officer of its consulting businesses.

GLOBAL - The Enhanced Analytics Initiative (EAI) expects to achieve its aims and disband "in the next two or three years", said chairperson David Blood.

INSTITUTIONAL funds under management at F&C Asset Management fell by almost £2bn during the fourth quarter of 2006, latest company figures reveal.

US - Putnam Investments is to be acquired from Marsh & McLennan Companies by Great-West Lifeco, a subsidiary of Power Financial Corporation, for US$3.9bn.