Europe

ITALY - Laborfonds, the defined contribution (DC) fund for workers in the Trentino/Sud-Tyrol region of Italy has launched an appeal urging employees to sign up before 30 June.

UK - Companies offering defined contribution (DC) pension schemes need more focused training, according to Fidelity International.

UK - State Street Global Advisors (SSgA) lost a £27.5m (US$55.4m) equity mandate in the shake up that saw Barings scoop £23m from United Norwest Co-operatives Employees' Pension Fund.

UK - Paul Maloney, national officer of the GMB union, has blasted merger and acquisition activity for damaging pension funds and cited the Pension Protection Fund (PPF), as being part of the problem.

UK - The Universities Superannuation Scheme (USS) has made a significant allocation into the alternative asset market by investing US$200m (£100.7m ) into Partners Group Alternative Beta Strategies.

GREECE - JPMorgan and North Asset Management have said they would be prepared to buy back all €280m of the structured bonds which were overpriced by €5m and sold to the Greek government pension scheme.

UK - Communication will be the key to the success of the new personal accounts, said John Hutton MP, during the NAPF annual conference in Manchester.

UK - Investment consultants have welcomed a proposal from Henderson Global Investors to use a diversified growth portfolio for the £300m Henderson Group Pension Scheme.

FRANCE - The French Reserve Fund (Fonds De Reserve Pour Les Retraites) has invited tenders for a database software system to improve its internal information capability.

UK - The Dumfries and Galloway local authority pension fund has completed a two-year restructuring of its portfolio by awarding two active currency and two global equity contracts.