Calpers pulls out of ‘costly’ hedge funds

Largest US public pension fund turns back on sector it says is too complex

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NEW YORK, NY - DECEMBER 05: A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City. Citigroup Inc. today announced it was laying off 11,000 workers, about 4 percent of its workforce, in a move to slash costs. (Photo by Mario Tama/Getty Images) ©Getty
UK regulator finds best execution is not delivered consistently
Mario Draghi, president of the European Central Bank (ECB), gestures as he speaks during a news conference at the bank's headquarters in Frankfurt, Germany, on Thursday, Nov. 7, 2013. The European Central Bank cut its benchmark interest rate to a record low after a drop in inflation to the slowest pace in four years threatened its mission to keep prices stable. Photographer: Ralph Orlowski/Bloomberg *** Local Caption *** Mario Draghi ©Bloomberg
John Dizard believes rational investment is impossible in a market rigged by central bankers

Call to unleash $1tn for social investments

UK says governments must do more to pave way for ‘impact’ projects

Swedish AP pension revamp has first casualty

AP3’s Gustaf Hagerud is to join Kestrel Investment Partners

Hong Kong mulls pension fund proposal

Plan raises questions of set-up costs and expense ratios

‘Low-cost’ drawdown product to launch

Scheme allows savers to move directly into drawdown

Century bond surge defies rate fears

US sales jump more than 60 per cent this year

Sales of annuities fall by a third

Insurers say savers took advantage of rule relaxation

Tokyo governor backs public funds shift

Shift of some of $32bn reserves urged for higher-yielding assets

Investors pull cash ahead of Scots vote

Carney warns on pound and party leaders head north

US economic recovery feeds yen bears

Policy split between Bank of Japan and US Fed weighs on currency

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