Europe

UK - The £1.7bn (US$3.34bn) Pension Protection Fund (PPF) has said it is looking for a panel of investment managers to oversee its global equity strategy.

UK - Legal & General has completed a £12m (US$23.8m) buyout of the Telegraph Media Group (TMG) defined benefit liabilities, with the support of actuarial consultancy Lane Clark and Peacock LLP (LCP).

UK - Paternoster urged regulating bodies to impose a clear framework for companies offering cash inducements to scheme members transferring out of a scheme.

EUROPE - Exchange traded funds (ETFs) could generally deliver above average performance compared to actively managed funds, investment company iShares has claimed.

UK - Only 27% of FTSE 350 directors are accruing only defined benefit (DB) pension benefits, a recent Watson Wyatt survey has found, showing the decline of DB has now hit the boardroom.

EUROPE - Pension fund solvency ratios in the UK, the Netherlands and Germany have fallen over the first half of 2008, a study by Lehman Brothers has revealed.

UK - PIMCO has issued a report exploring whether liability driven investment (LDI) is best viewed as an active or passive strategy.

UK - Debate and action on saving defined benefit (DB) pensions can no longer be deferred, according to the Confederation of British Industry (CBI).

NORDICS - The €215bn (US$338.4bn) ABP fund has taken a minority stake in Norwegian shopping centre company Steen & Strøm.

UK - Extending the adult rate national minimum wage to include 21-year-olds will have a knock-on effect on UK employer pension contributions after 2012, Watson Wyatt has revealed.