Europe

UK - Balanced pooled funds produced their first negative quarterly return since Q2 2006 with the three months to the end of March 2008 making a median -7.9%, according to BNY Mellon Asset Servicing.

The Merseyside Pension Fund in the UK has revamped its asset allocation in order to help it recover from its £1bn deficit (US$1.98bn).

UK - A strike at the Grangemouth oil refinery in Scotland is set to go ahead after discussions between petrochemical company INEOS and trade union Unite broke down yesterday.

UK - The Pensions Regulator (TPR) has set out its goals for the next three years to include strengthening DB scheme funding, improving governance and reducing risk to DC scheme members.

DENMARK - ATP Group has recorded losses of DKK2.2bn (US$0.46bn) in the first quarter, with its investment portfolio returning -0.3%.

UK - Pension Corporation chief executive Edmund Truell has urged the government to focus on the "real pension issues", after its recent proposal to strengthen the powers of the Pensions Regulator (TPR) to deal with pension buy outs.

UK - The Lothian Pension Fund has become one of the lead plaintiffs in a class action lawsuit accusing BP of destroying shareholder value.

UK - HM Treasury has released figures showing contributions paid by UK Government departments and employees to public sector pension schemes are £30bn less than the cost of the new benefits being earned.

UK - The Merseyside Pension Fund is in a deficit of £1bn (US$1.98bn), according to its latest actuarial valuation.

UK - Pension trustees' views on the future of defined benefit (DB) schemes is at odds with the expectations of employers, a survey from Aon Consulting has revealed.