Europe

GLOBAL - Investors in Australia, the UK and Sweden ranked highest in a new "Environmental Real Estate Index" developed on the back of a global environmental survey commissioned by three large European pension funds.

UK - The longevity swap market could reach £20bn (US$28bn) this year as schemes look towards cheaper DIY options to reduce risk.

UK/US - Two US investment management firms have decided to launch target date funds in an assault on the UK DC market, Global Pensions has learned.

UK - Pension and benefits consultancy Xafinity has been bought by private equity shop Advent International from Duke Street for an undisclosed sum.

ITALY - Italian pensions watchdog Commissione di Vigilanza sui Fondi Pensione (Covip) has called for a "modernisation" of the rules regulating the investments pension funds are allowed to make.

UK - Lawrence Churchill is to leave his post as chairman of the Pension Protection Fund to become the first chairman of NEST Corporation, the trustee body overseeing the country's new personal accounts scheme.

NORWAY - Norges Bank has defended itself against accusations that it is falling well short of its ambitions as an ethical investor with regard to climate change.

UK - Pension funds could be missing out on returns from debt offered by high quality, but lesser known companies looking to raise cash through single bond issues.

UK - The Universities Superannuation Scheme has boosted its global emerging markets team with three hires.

UK - Asset managers are staying in the "comfort zone of defined benefit" and are failing to seek business opportunities in defined contribution schemes, consulting firm Spence Johnson said.