SWITZERLAND - The Novartis pension fund has reportedly revealed plans to invest 4 % of it its portfolio in precious metals.

UK - The Trades Union Congress (TUC) has highlighted the reduction of investment opportunities for pension funds created by the growth of private equity funded takeovers.

AUSTRALIA - In the wake of a public outcry prompted by ill-informed media reports, the guardians of Australia's A$51bn Future Fund have been forced to defend their recent appointment of a US bank as global custodian.

UK - Goldman Sachs Asset Management (GSAM) and State Street Global Advisors (SSgA) have launched two new strategies for institutional investors.

GERMANY - Furthering its European expansion drive, Watson Wyatt has announced it will buy German actuarial, benefits and human resource consultancy, Heissmann.

UK - Shropshire County Council pension fund has awarded a £46m pan European Property contract to Arlington Property Investors.

IRELAND - Competition has become stronger in the financial services private pension scheme sector, according to pensions ombudsman Paul Kenny.

ALMOST half (47pc) of 60-69 year olds questioned in the UK have some form of paid work, a report by HSBC says.

THE PENSION Protection Fund has appointed Martin Clarke as director of financial risk.

STATE Street Global Advisors has extended its 130/30 investment product range in a bid to boost scheme's portfolio efficiency.