Europe

US/EUROPE - Institutional investors decreasing their holdings of convertibles over the last year has led to a decline in the total long market value of funds, research from Greenwich Associates has shown.

UK - The £499m Highland Council Pension Fund is tendering for investment advisory and consultancy services.

UK - Charlie Metcalfe has been appointed CEO to First State Investments (UK), the international operation of Colonial First State Global Asset Management.

UK - The contributions made by FTSE 100 schemes to their pension funds have increased more than 10% in the last two years, found consultants Watson Wyatt in a recent survey.

UK - Alternative investments such as hedge funds, private equity and commodities are set to become mainstream asset classes for pension funds over the next three years, according to a survey by Investment Solutions.

UK - Only five out of the UK's 20 largest occupational pension schemes have disclosed policies on engaging with companies on environmental and social responsibility, research by FairPensions has revealed.

SPAIN - The average monthly state pension for retirees in Spain rose to €727.70 on 1 November - a 5.8% increase on the average state pension on the same date in 2005.

UK - Doubt has been cast over whether a reduction in regulation would have any effect in discouraging employers from "levelling down" contributions under the NPSS.

ITALY - The €143m Fondogommaplastica has issued a tender for the the management of the sector of the fund destined for workers' final indemnity payments.

UK - Interest in continental European real estate investment has increased by 30% over the last year, a survey by ING Real Estate Investment Management has shown.