Europe

EUROPE - Euro-zone defined benefit (DB) pension plans beat their global peers in terms of increasing their projected benefit obligation (PBO) funded ratios in the last quarter of 2006, new report has claimed.

UK - A UK consortium of City of London heavyweights has exclusively told Global Pensions they are set to launch a vehicle aimed at insuring pension funds against the risk of sponsor bankruptcy.

UK - HSBC has launched Corporate Pensions Management (CPM), an administration service for its defined contribution (DC) scheme customers.

UK - A new report on UK information ratios has warned pension fund trustees that past performance bears little correlation on future results.

UK - Northumberland County Council Pension Fund has embarked on a search for two managers in active global equity fund management.

UK - Pension fund manager Hermes has explained why it is considering active strategies for future investments in commodities on behalf of its owner, the £38bn BT Pension Scheme.

UK - A new study has revealed that multinational companies are managing their pension risks and assets with little sense of urgency.

GLOBAL- Leading infrastructure experts have warned pension funds about investing in the asset class without first doing their homework.

NORWAY - The Norwegian Government Pension Fund has divested NOK4m (US$0.6m) from South African DRD Gold Limited because of ethical concerns.

UK - The chief executive officer of Scottish Widows Investment Partnership (SWIP), Chris Phillips, has died unexpectedly during a walking vacation in Spain.