Europe

ITALY - Pension reforms in the country will be rolled out after the budget, claimed Dario Francheschini, group leader of the governing party Ulivo.

SPAIN - In a speech last week the labour minister, Jesús Caldera, stated the payment of pensions was guaranteed until at least 2036 due to continued surpluses in the social security system.

UK - Balanced pooled funds bounced back from a poor second quarter to post a median return of 3% in Q3, a Mellon Analytical Solutions (MAS) report has found.

British Airways (BA) is to spend billions on new longhaul aircraft, despite being plagued by a £2.1bn hole in its pension scheme.

UK - Synesis Life has appointed Jane Newell, chairman of the Royal Mail Pension Plan, as a non-executive director.

UK - In a proposed flotation said to be worth £500m, BlueBay Asset Management is set to list on the London Stock Exchange (LSE), allowing an exit for shareholders Barclays and Shinsei Bank.

UK - The £3.5bn London Pension Fund Authority (LPFA) has confirmed further Socially Responsible Investments (SRI) are in the pipeline, after the fund allocated £20m to Impax.

EUROPE/US - Boutique manager SVM Asset Management revealed it has discussed taking its new SRI fund over to the US, although it stressed no concrete plans had yet been made.

EUROPE - The funding deficit affecting European occupational pension plans "is a man-made disaster" and not just the result of falling equity markets, claimed author Guy Fraser-Sampson.

EUROPE - Morley Property has appointed its first dedicated property securities fund manager in the form of ABP's Paul van de Vaart.