News

GLOBAL - The Bank of New York's Asset Management and Private Banking division saw its assets under management increase US$26bn during 2006 to $131bn.

NETHERLANDS - PGGM has awarded a €250m (US$329m) multi-asset class emerging market mandate to Albright Capital Management.

DRAFT regulations designed to introduce a new Local Government Scheme are ambiguous and incomplete, scheme manager warns.

US - The nation's two largest pension funds have launched an emerging managers database in a bid to boost investment returns long-term.

DWP lowers pensions transfer values; Merrill sees record 68pc rise in profits; Strong business performance increases likelihood of rate rise; Furse hints at doors to open if LSE investors shun Nasdaq

AUSTRALIA - Staff could avoid paying an additional tax of up to 35% on employer's superannuation contributions by amending disclosure rules to allow employers to provide their employees' tax file numbers (TFN) to superannuation funds, Mercer has claimed....

UK - The DWP yesterday announced that from April 2008 pension transfer values would be calculated according to the expected cost to the scheme providing the pension.

Contracted-out workers are being urged to resist "aggressive" cold calls from firms that are offering the chance of compensation.

JP MORGAN Asset Management defectors Miles Geldard and Lee Manzi are to run two new funds for MPC Investors.

HSBC Investments has launched two new pooled quant funds for UK institutional investors.