INCLUDING: EUROPE - Mercer voices concerns on EU Directive on alternatives; FRANCE - FRR up 10.5% in the second quarter; SWITZERLAND - Funds cover ratio slightly better

Market turbulence has tested the viability of the traditional investment consulting model, a poll by SEI reveals.

US - The Pension Benefit Guaranty Corporation (PBGC) reached an agreement with Western Union Financial Services aimed at strengthening the funding of the company's retirement plan.

THE NETHERLANDS - Pension fund investor APG has appointed Angelien Kemna as chief investment officer of APG and chief executive of APG Asset Management.

US - Fitch Ratings has downgraded the rating assigned to the Credit Enhancement Programme (CEP) sponsored by the California State Teachers Retirement System (CalSTRS) to AA+ from AAA.

The Walthamstow Stadium Limited Retirement Benefits Scheme has completed a £19m buyout deal with Pension Insurance Corporation.

AUSTRALIA - The Australian Government civilian and military superannuation schemes' pensions should continue to be indexed by the consumer price index (CPI), a report has concluded.

CANADA - The Ontario Teachers' Pension Plan has acquired CTVglobemedia's remaining 7.7% stake in Maple Leaf Sports and Entertainment (MLSE), owner of several sports franchises including hockey league Toronto Maple Leafs.

UK/IRELAND - The Accounting Standards Board is currently sounding out opinion on proposed changes to accounting standards for UK and Irish companies.

GLOBAL - Pension schemes are still eyeing opportunistic investments despite the severity of the current crisis, asset managers say.