Asia

ASIA PACIFIC - Mercer has created a role in its Asia Pacific region to provide investment solutions to mega funds.

MIDDLE EAST - An increase in multi-national companies in the Middle East is driving demand for Western-style pay and benefit practices, according to Mercer.

TURKEY - Cordea Savills has opened a property fund and Lyxor has launched an ETF to capitalise on Turkey's expanding economy.

SOUTH KOREA - South Korea's National Pension Fund has moved away from US Treasuries because of low yields, according to reports.

JAPAN - Electronics giant Hitachi will contribute stock to a newly established employee retirement benefit trust, in a move to improve its pension financing and increase its utilisation of financial assets.

MIDDLE EAST - BNP Paribas Investment Partners (BNPP IP) and the Saudi Investment Bank (SAIB) have formed an asset management firm in the Kingdom of Saudi Arabia.

MIDDLE EAST - SEI has opened an office in the Dubai International Financial Centre (DIFC) to provide investment solutions to clients in the Middle East.

INDIA - India's New Pension Scheme (NPS) will initially allow members just two investment options - government securities alone or a 15/85% split between equities and fixed income.

MIDDLE EAST - Crédit Agricole Asset Management (CAAM) has formed a joint venture with Banque Saudi Fransi (BSF) called Caam Saudi Fransi, to provide asset management services in the Middle East.

SINGAPORE - Morningstar has replaced Mercer (Singapore) as investment consultant to Singapore's state pension fund, the Central Provident Fund Investment Scheme (CPFIS).