Indices

Transport group Stagecoach is considering scrapping its final salary scheme and replacing it with more affordable defined benefit provision.

AUSTRALIA -The Australian Prudential Regulation Authority (APRA) has brought the 30 June 2006 Registrable Superannuation Entity (RSE) license application deadline forward by four and half months.

EUROPE - Russell Investment Group has launched a global real estate securities fund for European pension funds ahead of the much anticipated introduction of REITs.

US - Pension funds of S&P 500 companies failed to improve their funding status from a US$164bn deficit last year, despite their double-digit market gains.

GERMANY - Deutsche Asset Management's Germany head has left the manager after more than 23 years to join Frankfurt rival, DekaBank's asset management arm.

CHINA - Hotspot Fxi, the electronic foreign exchange marketplace system for the institutional market has announced the opening of a new representative office in Beijing.

US - If plans to privatise part of Social Security are successful, the Thrift Savings Plan (TSP) is a likely model for the type of savings accounts that could result, according to the chairman of Standard and Poor's index committee.

AUSTRALIA - The Australian Securities and Investments Commission (ASIC), in conjunction with the Australian Prudential Regulation Authority (APRA), has issued a new Class Order that facilitates "intra-fund" superannuation member benefit transfers.

GLOBAL - Global real estate investment management firm CB Richard Ellis Investors has launched CBRE Global Real Estate Securities - an investment programme offering global securities investment and management services.

FRANCE - AXA Investment Managers (AXA IM) and BNP Paribas Asset Management have pooled forces to develop a new range of ETFs to be sold under the EasyETF brand.