Europe

EUROPE - The European Commission has adopted additional proposals clarifying the scope of the new European Supervisory Authorities.

FRANCE - Investment returns at the Fonds de Réserve pour les Retraites (FRR) are up 12.8% since the start of the year helping to bring its total assets to €31.9bn (US$47.2bn), the pension fund said.

UK - Pension scheme liabilities could hit £1.2trn (US$1.7bn) by the end of December as a result of a sharp decrease in AA corporate bond yields, Xafinity Consulting warned.

EUROPE - The vast majority of UCITS asset managers are set to consolidate their various companies as they prepare for the implementation of the UCITS IV directive.

EUROPE - The European Commission has adopted additional proposals clarifying the scope of the new European Supervisory Authorities.

UK - CSC UK is to close its £755m (US$1.2bn) defined benefit pension scheme to existing members.

EUROPE - Crédit Agricole S.A. and Société Générale today announced their new merged asset management firm will be called Amundi.

GLOBAL - The International Accounting Standards Board (IASB) today voted to not move forward with plans to eliminate the use of government bonds to determine discount rates.

Implemented consulting involves trustees partially delegating fund decisions to a third party. While it has become a hot topic, Christine Senior says schemes need to give it careful thought

UK - The Invensys Pension Scheme has appointed BNY Mellon to provide it with derivatives collateral management services.