Europe

NORWAY - The Norwegian government plans to spend NOK148.5bn (US$26.7bn) of the Government Pension Fund - Global's assets to help spur economic growth, the Ministry of Finance said as it unveiled its proposed 2010 budget yesterday.

UK - A Conservative government will investigate early auto-enrolment proposals "as a priority," shadow secretary of state for work and pensions Theresa May said.

EUROPE - Improving investor confidence sparked €143bn (US$213.1bn) of net inflows to European funds in the first eight months of 2009, with €128bn going into UCITS, research showed.

FINLAND - European pension funds scooped up nearly a fifth of Finland's recent €3bn (US$4.4bn) bond issuance, the State Treasury said.

BELGIUM - The European Fund and Asset Management Association (EFAMA) - the representative body for the European investment management industry - has announced the creation of the "President's Advisory Council".

UK - The £10.6bn (US$16.8bn) Shell Contributory Pension Fund is set to invest 5% of its portfolio in hedge funds and other alternatives for the first time, a trustee newsletter revealed.

UK - More than 1500 Fujitsu workers are deciding whether to take industrial action over proposed pension cuts which unions believe will cut salaries by 20%.

UK - The £7bn ($11bn) West Midlands Pension Fund has invested £40m in a global long-short equity fund of hedge funds run by Goodhart Partners.

NORWAY - Managers at the Norway Government Pension Fund -Global are flexing their corporate governance muscles and demanding that Volkswagen call off its planned acquisition of luxury car maker Porsche.

EUROPE - T. Rowe Price has launched its first global fixed income absolute return strategy.