News

DENMARK - ATP's investments brought in DKK6.7bn ($1.3bn) , or 1.7%, in the first quarter, with much of the performance driven by rising oil prices and expected rises in inflation.

More than two-thirds of scheme managers believe the scrapping of contracting-out for defined benefit schemes will lead to further closures to new or existing members.

EUROPE - Montagu Private Equity has raised €2.5bn ($3.6bn) in its latest mid-market European buyout fund with over 20% of assets coming from pension funds, confirmed director Vince O'Brien.

Wolfson Microelectronics is to close its defined benefit pension scheme to future accrual and is working with trustees to eliminate the scheme's £10m deficit within 10 years.

Premier Foods is in discussions with the trustees of its pension schemes about whether or not it can issue bonds as a company.

Increasing public sector employee contribution rates is threatening a surge in opt-outs - putting Lord Hutton's call for affordable reforms at risk, a lawyer warns.

UK - BAA has shaved a further £37.1m ($61.5m) off its defined benefit scheme deficit, results show.

US - New York governor Andrew Cuomo has asked the state's Insurance Department to, for the first time, ban the involvement of any state officials in pension fund business.

BAA has shaved a further £37.1m off its defined benefit scheme deficit, results show.

Trustees of global security firm Northrop Grumman's UK pension plan have appointed Punter Southall as its scheme actuary.