News

US - Hermes Equity Ownership Services (EOS) has successfully engaged with the New York Times Company (NYTC) to change its director election policy, bringing it into line with other companies.

US - The Wyoming Retirement System has acted to protect volunteer trustees concerned the introduction of an act in 2005 could hold them personally liable for scheme losses.

UK - Providers of fiduciary management services, popular in the Netherlands, have claimed elements of the offering are already being used in the UK and some pension funds will have adopted the approach by the end of 2008.

EUROPE - European institutional investors are missing out on billions in damages by failing to participate in US securities class actions, according to a new report.

INCLUDING: NETHERLANDS - Ping An acquires stake in Fortis; UK - Hewitt takes over New Bridge Street Consultants; US - CalPERS reports Q4 losses; NEW ZEALAND - NZ Super Fund appointment

EUROPE - Campaigners claim pressure on European pension funds to divest from PetroChina is mounting, after members of the European Parliament sold their scheme's stocks in the company accused of bankrolling the Sudanese regime.

US - The US Department of Labor is consulting on a model notice for plan sponsors to inform participants when their plan runs into financial difficulties.

TWO new local government pension schemes have joined the Local Authority Pension Fund Forum taking its membership to 48.

UPDATED clearance guidance for trustees and employers has been published by The Pensions Regulator following an industry-wide consultation.

GLOBAL - Private equity firms are expected to increasingly seek funding directly from institutional investors such as pension funds in order to sidestep financial troubles within the banking industry.