Europe

UK /NETHERLANDS - Pensions trustees have thwarted a takeover bid for chemical company ICI by Dutch conglomerate Akzo Nobel.

UK - BP Pension Fund head of investment, Colin Maltby has retired leaving the £13bn (US$26.5bn) fund in surplus of an estimated £2bn (US$3.9bn).

CHINA - Société Général Asset Management (SGAM) has increased its share in Chinese Fortune SGAM to the highest local permissible limit.

UK - Citigroup plans to launch a new set of alpha indices in this month to complement the creation of its Beta 1 currency index.

UK - The Parliamentary Contributory Pension Fund has remained tight lipped over a £9m mandate awarded to hedge fund of fund managers, Quellos Capital Management.

GREECE - In the latest twist in the JP Morgan bond debacle, the firm told the parliamentary committee investigating the overpriced bonds scam that it was misled by a former employee.

UK - New bulk buyout firm Pension Insurance Corporation (PIC) is set to appoint a panel of transition managers to manage the transfer of assets it acquires from pension funds.

UK - The London Fire and Emergency Planning Authority have issued a tender for an administrator to the Firefighters' Pension Schemes.

UK - Specialist global listed property firm Cohen & Steers has reopened the debate as to whether pension funds are up to speed with real estate investment trusts (REITs).

UK - The Shetland Islands Council pension fund and Warwickshire County Council pension fund have dramatically increased allocations to alternatives in a bid to diversify their portfolio's.