Europe

FINLAND - Allocations to hedge funds by pension and pension-related funds have doubled since the start of the year, the latest statistics from the Finish Pension Alliance (TELA) have shown.

FRANCE - Amid promises of a further round of strikes over the proposed changes to French ‘régimes spéciaux' pensions next week, Président Nicholas Sarkozy and Premier Ministre François Fillon have come out fighting.

EUROPE - Multi-national companies have begun moving their pan-European pension funds to Belgium following legislative changes brought in at the beginning of 2007, according to Deloitte.

EUROPE - European pension funds will be able to claim back taxes on foreign dividends, following a ruling against the Dutch government in the European Court of Justice (ECJ).

UK - Pension Corporation's take over of Marconi remnant telent could still falter, despite overwhelming support for the bid by shareholders.

UK - The National Association of Pension Funds (NAPF) has called on the industry to replace the current ten Myners Principles with six high level principles.

UK - Jessop Fund Managers (JFM) has awarded two mandates to BNY Mellon Asset Servicing (BNY MAS) to provide fund accounting, transfer and administrative services for the Jessop Personal Pensions Unit Trust (PPUT).

FRANCE - Société Générale has posted its third quarter results, showing sub-prime related losses and poor performance as a result of the turbulent summer in the asset management division, but an over all increase in assets under management.

UK - The differences in pension benefits among senior employees are being overlooked by HR directors, according to a report from Watson Wyatt.

NORWAY - The Government Pension Fund - Global is expected to grow from current value US$350bn to $600bn by the end of 2010.