Asia

INDIA - The Pension Fund Regulatory and Development Authority (PFRDA) has announced sweeping changes to the government New Pension Scheme (NPS).

PHILIPPINES - The Government Service Insurance System (GSIS) has appointed Citibank as global custodian for its US$1bn Global Investment Program (GIP).

ASIA-PACIFIC - The adoption of defined contribution (DC) pension schemes has grown rapidly to cope with the effects massive demographic shifts towards elderly populations, a report by Allianz Global Investors (AGI) has shown.

PHILIPPINES - The Government Service Insurance System (GSIS) has awarded mandates for its $1bn Global Investment Program (GIP) to ING Investment Management and Credit Agricole Asset Management.

SINGAPORE- Janus Capital Group Inc has opened an office in Singapore to target the institutional and wealth management markets in South East Asia.

PHILIPPINES- The Government Service Insurance System (GSIS) said it would name the fund managers and global custodian for its US$1bn venture into foreign capital by the second week of October.

SOUTH KOREA - Prudential Investment & Securities Co. Ltd (PISC) is to launch a utilities fund for institutional and private investors in the South Korean market, sub-advised by ANB AMRO.

JAPAN - Nobu Shimizu, the former director-general of the investment management department at the Y110trn Japanese Government Pension Investment Fund (GPIF), has left the organisation and moved to an independent administrative corporation.

ASIA - PACIFIC - Mercer Investment Consulting has beefed up its responsible investment (RI) capability in the Asia-Pacific by appointing Helga Birgden to lead its RI business unit in the region.

JAPAN -The Japan Pension Funds Association has revealed a potential list of new investment allocations into areas such as real estate, hedge funds, infrastructure, commodities and an expansion of private equity.