Europe

UK - Hewitt Associates has lost an actuarial and investment services mandate with Panasonic UK pension schemes to Lane Clark & Peacock (LCP).

UK - State Street Corporation has been awarded custody and investment servicing mandates by five UK-based pension funds, worth a total of £950m .

FRANCE - Buck Heissmann France has acquired independent actuarial consultant MODAC.

UK - Railpen is to invest £400m in hedge funds, as it looks to increase its total portfolio to £1.2bn by December 2007, up from £600m at the end of 2005.

UK - More than one fifth (22%) of companies feel increasing defined benefit pension costs are hurting share price, research by Aon Consulting has found.

GLOBAL - ETF assets under management are expected to surge from the current US$574bn to over $2trn by 2011, Morgan Stanley has claimed.

NETHERLANDS/UK- Northern Trust was awarded two custody mandates in the last two days - by the East Riding of Yorkshire Council pension fund and Stichting Bedrijfstakpensioenfonds Zorgverzekeraars (SBZ), worth €3bn and €2.3bn respectively .

ITALY - Prime minister Prodi's resignation has raised concerns among Italy's three large trade unions since it could mean stagnation of reforms - including that of pensions.

UK - It would be outrageous for the government to make those affected by the pension maladministration wait any longer for compensation, independent pension advisor Ros Altmann has claimed.

CYPRUS - The Cypriot government has once again been forced to face its bleak pension reality with the International Monetary Fund declaring urgent reform was needed in addition to the steps taken to address aging-related expenditure pressures.