Fears over pension review rift; Outbreak of honesty on tax relief; Rest of world holds nerve as China shares tumble

UK - The recommendations of the Thornton report to combine the Pensions Ombudsman (PO) and Financial Ombudsman Service (FOS) will benefit consumers, according to Paul Thornton, who carried out the review.

NETHERLANDS - Dutch pension funds ABP and PGGM have awarded a €500m mandate to their joint investment vehicle AlpInvest Partners, to invest in clean technology.

INSTITUTIONAL investors have called on the G8 - the world's richest nations - to lay the foundations for post-2012 policy framework on climate change.

THE THORNTON review of pension institutions has recommended combining the Pensions Ombudsman and Financial Ombudsman Service.

AON CONSULTING has hired a fixed income derivative specialist and a senior relationship manager after lengthy careers with investment banks.

ITALY - State Street Global Advisors (SSgA) has appointed Marco Fusco to become the managing director of its business and operations in Italy.

UK - Zurich Assurance has transferred £3.7bn in assets and approximately £3.9bn in liabilities to Swiss Re to focus on its core business of pensions, investments and protection.

POOLED fund of hedge funds achieved median returns of 3.4pc in the first quarter of 2007, latest Mellon Analytical Solutions research shows.

SOUTH AFRICA - The national treasury is said to be expecting a backlash against legislation that has forced companies to refund pension fund surpluses which had been misused, according to reports.