The California Public Employees' Retirement System's (CalPERS) Board of Administration (Board) today reaffirmed its decision to review the System's tobacco divestments, and shortened the time period for review to six to nine months.

Schroders has reached an agreement with Brookfield Investment Management Inc. to acquire its securitised products investment management team with more than $4 billion in assets under management.

Jim Ross, current head of SSGA's SPDR ETF Business and Intermediary Distribution, has been named chairman, Global SPDR and SSGA Funds Management. Nick Good, current chief operating officer of the North American Intermediary Business Group, and Rory Tobin, current head of European Distribution, will now each become co-heads of Global SPDR.

Following a tender process, Crédit Suisse Real Estate Investment Management Germany selected CACEIS to administer its German real estate funds. This deal demonstrates the growing trend among German market real estate fund managers for activity outsourcing.

The impending death of the €500 note has huge implications on the conduct and shape of future monetary policy. We believe the upcoming decision to stop printing the bill goes beyond anti-money laundering, which is commonly cited as the reason.