Europe

FINLAND - Private sector pension insurer Pension Fennia has increased its market share to 10.6%, up from 10.2% the previous year.

EUROPE - European fund of hedge funds (FoHF) are increasingly being used by institutional investors, because confidence in FoHFs investments has risen, according to a report by Fitch Ratings.

UK - Merseyside Pension Fund has appointed UBS Global Asset Management to manage a US equity contract, according to MandateWire.

TURKEY - The Turkish Army pension plan is to invest outside of Turkey for the first time.

UK - London Pensions Fund Authority (LPFA) has appointed JPMorgan to provide portfolio administration and performance reporting for its alternative investment portfolio.

UK - Currency overlay managers failed to add value for the second consecutive quarter, according to BNY Mellon Asset Servicing.

UK - A concession announced in yesterday's Budget which will allow small pension pots to be converted into cash has been widely welcomed.

UK - GDP growth forecasts have been scaled back by Alastair Darling, to between 1.75% and 2.25% in 2008.

UK - Consulting firm Watson Wyatt has developed an updated version of its financial modelling system, VIPitech, which it claims slashes stochastic run times.

EUROPE - European property markets look set to deliver low returns in 2008 as a result of asset re-pricing due to the credit crunch.