Europe

UK - Amid claims its risk-based levy will kill UK defined benefit (DB) pension schemes, the Pension Protection Fund (PPF) today confirmed it would not consider investment strategy as a separate risk factor.

UK - British pension funds have been slower to invest in listed property than their global counterparts, claimed Stephen Hayes of boutique manager Perennial Real Estate Investments.

ITALY - An Italian pension scheme covering pilots and airline technicians has launched a search for a financial institution to offer life annuities products for its members.

UK - In an attempt to kick start the defined benefit (DB) buyout market Paternoster has urged trustee boards to buy now while rising bond yields force prices down.

UK - Baring Asset Management has been awarded a £23m diversified growth mandate by United Norwest Co-operatives Employees' Pension Fund.

BELGIUM - The Belgian municipality of Brecht has tendered a €2.4m (£1.8m) mandate for a new pension fund.

UK - The Highland Pension Fund has appointed Hymans Robertson to provide investment advice and consultancy services.

UK - The Investment Management Association (IMA) has appointed Robert Jenkins of F&C Asset Management as chairman.

UK - Aon Consulting has been busy recruiting after it lost its head of defined contribution (DC), Paul Macro, who has jumped ship to join rival Watson Wyatt.

UK - The Trades Union Congress (TUC) has highlighted the reduction of investment opportunities for pension funds created by the growth of private equity funded takeovers.