News

UK - Scottish Widows Investment Partnership (SWIP) has appointed WestLB Mellon's Craig Veysey as global bond product head.

AUSTRALIA - Frank Gullone has resigned as CEO of superannuation administrator Superpartners, after more than four years in the role.

SCHEMES will fail match liabilities properly if they use property as a proxy for bonds in liability-driven investment strategies, Schroders warns.

Pension deficit could be £100bn; Sharp change likely in emerging markets

THE WEST Yorkshire Pension Fund and the Royal County of Berkshire Pension Fund are among 14 investors that have signed up to Schroder's European property fund of funds.

NETHERLANDS - The €81.1bn PGGM was the best performing Dutch pension fund in Q4 and 2006 overall, followed by ABP and PME.

US - The PBGC has taken on two Venture Holdings pension funds with a combined shortfall of US$12.4m - just one day after assuming $12m pensions shortfall from Foss Manufacturing.

GLOBAL - Northern Trust Corporation announced record net income for 2006, boosted by a strong fourth quarter, and 13% growth in assets under management to US$697bn.

GLOBAL - State Street Global Advisors' (SSgA) revenue increased 26% in 2006 as assets under management reached a record US$1.7trn in the Q4 2006, compared to $1.4trn in the year-ago quarter.

UK - B&CE Benefit Schemes has appointed Invesco Perpetual to manage a £70m UK equity mandate.