Daiwa pension client demands S&P benchmark

Standard & Poor''s gets first pension fund to benchmark against its new Topix 150 index.

The SPTopix 150 equity index in Japan has notched its first pension fund to benchmark against it.

Last year Standard Poor's, the creator of the Topix 150, was approached by Daiwa Bank, which manages pension assets. Daiwa said it had a corporate pension client that had demanded Daiwa design a portfolio benchmarked against the new index. Daiwa has not revealed the name of its client, but according to David Collins, vice president of index services at SP...

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