Global Pensions | 02 Sep 2010
IRELAND - Falling French and German bond yields coupled with declining equity markets in August have left Irish pension funds with the renewed prospect of funding difficulties, Hewitt Associates says.
US – Pension plans of S&P1500 companies are shouldering deficits of a combined $506bn, the largest recorded deficit in their history, according to data by Mercer.
EUROPE - Pension funds should be able to decide for themselves whether the benefits of shareholder engagement outweigh the costs involved, the European Federation for Retirement Provision (EFRP) believes.
US – David Cooper has been named chief investment officer of Indiana’s two largest pension plans, a further step in merging the operations of two schemes with $22bn in combined assets.
GLOBAL - Multinational companies are looking at innovative ways to redesign defined benefit schemes but will cut contributions by 10% in the process, research by Mercer suggests.
UK/GLOBAL – J.P. Morgan Asset Management has hired Mike O’Brien, BlackRock’s former head of institutional business for EMEA, as its global head of the institutional client group.
US/EUROPE - Pension funds from Europe and the US have been given the go-ahead to proceed with a securities fraud lawsuit against Bank of America and Merrill Lynch.
GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.
ASIA – Nikko Asset Management has hired the former Morgan Stanley Investment Management chief executive for Asia to help the Japanese firm continue to expand throughout the region.
GLOBAL - Just 16% of multinational companies feel their existing benefit plan governance structures are sufficient to meet current and anticipated future needs, research by Mercer shows.
UK/Global - Employees at AstraZeneca will strike on three dates in September in a row over cuts to its UK pension scheme, GMB says.
ASIA - Investors are underestimating the opportunities for Asian local currency bond markets, Legg Mason affiliate Western Asset Management believes.
GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days (13 August - 20 August).
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