SOUTH AFRICA - Trustees have a duty to recover profits made by pension fund administrators that have not been disclosed to pension schemes, the pension funds adjudicator (PFA) has ruled.

GERMANY - The German government is considering legislation that would make it more difficult for stealth takeovers such as Porsche SE's acquisition of shares in Volkswagen AG, the Finance Ministry said.

Previously considered an expensive but failsafe insurance solution, the financial security of pension fund buyouts is now being questioned as the world's financial markets lurch from crisis to crisis. Emma Oakman reports

GLOBAL - Mercer has launched a 'carbon footprint' analysis for institutional investors' portfolios, which can be compared to a chosen benchmark such as the FTSE All-Share, S&P 500 or Russell 1000.

ENVIRONMENTAL, social and governance risks are still being neglected by many fund managers, FairPensions warns.

AUSTRALIA - The infrastructure debt market is being targeted for opportunities by institutional fund manager QIC.

UK - The aggregate funding position of some 7,800 defined benefit (DB) pension schemes is estimated to have worsened over the month of October to a deficit of £97.3bn (US$154bn), the Pension Protection Fund (PPF) says.

MERCER has launched a "carbon footprint" analysis service that compares client portfolios to a chosen benchmark such as the FTSE All-Share.

UK - HSBC is set to announce changes to its defined benefit pension scheme after a consultation period with trade unions closed six weeks ago, Unite says.

ITALY - Bank of Italy's vice director general Antonio Finocchiaro has been nominated president of COVIP, the Italian watchdog of pension funds.