Europe

DENMARK - Pension manager ATP posted overall investment returns of 8.5% for 2009, but officials remain unsure about whether or not they can increase pension payments next year.

EUROPE - The current draft of the Alternative Investment Fund Managers European directive could give rise to significant legal uncertainty and "systemic failure", a committee of the Bank of England said.

UK - The Conservative Party has confirmed a large chunk of its pensions strategy in a major policy document on economic growth.

US - Major US pension funds have invested in the second infrastructure fund raised by Alinda Capital Partners, which recently closed at US$4bn.

US/EUROPE - A group of investors led by the Retirement System for the General Employees of the City of Miami Beach have won a class action trial against Vivendi and will be entitled to recover an estimated US$9.3bn.

UK/US - The Reader's Digest Association said The Pensions Regulator will not approve a rescue plan for its pension scheme, throwing the future of its UK business into jeopardy.

UK/US - Affiliated Managers Group and the management team of Artemis Investment Management have bought Artemis from Fortis Bank for an undisclosed sum.

UK - A group of banks and insurance firms have launched an association to promote the development of a liquid traded market in longevity and mortality-related risk.

UK - The "administrative nightmare" of auto-enrolment into National Employment Savings Trust will divert necessary attention from the scheme's investment strategy, the Pensions Institute warned.

FRANCE - The Fonds de Réserve pour les Retraites (FRR) has selected Goldman Sachs International and Russell Implementation Services as transition managers.