Europe

UK - Consultancy firm bfinance has claimed the figure of 25% of local government pension schemes with some form of active currency allocation is set to "grow considerably".

UK - Gordon Brown may have at last given UK pension funds a break by removing stamp duty on foreign exchange traded funds on the London Stock Exchange, according to Lyxor AM which launched three such funds today.

UK - Trustees have expressed interest in the new UK pension fund insurance vehicle, which was revealed exclusively in last month's Global Pensions.

UK - First State Media Group has acquired the music copyright to 25,000 songs, which will form part of a media fund aimed at pension funds.

UK - The debate over control of pension fund surpluses has been reignited by David Yeadle of the EEF manufacturers' association who called for companies to be allowed access to the cash.

UK - The Financial Services Authority (FSA) has warned life insurance companies to strengthen their life expectancy assumptions and set more money aside to pay long-living pensioners.

EUROPE - Fortis Investments has increased its profit by 10% compared to last year according to its Q1 2007 results.

GLOBAL - Fitch Ratings has downgraded Credit Suisse's London-based asset management arm rating to 'AM2-' from 'AM2' and removed it from Rating Watch Negative (RWN).

UK - The PPF levy is a potential crippling additional cost to some pension schemes, according to the latest annual pension schemes administration survey by Capita Hartshead.

UK - The Pensions Ombudsman (PO) and The Financial Ombudsman's Service (FOS) have been waiting in anticipation for the results of The Department of Work and Pensions (DWP) Institutional Review amid speculations they will be merged or scrapped.