Europe

EUROPE - Public servants in Ireland will be eligible to retire from the age of 50 or 55 with actuarially reduced superannuation benefits under new reforms to public service pensions announced by the minister of finance.

UK - Fidelity Investments is to launch a major assault on the defined benefit market, focusing on both fixed income and liability mandates.

UK - National Grid Transco has assured workers it included safeguards on their pensions when it sold four regional gas pipelines for £5.8bn.

UK - Mothercare's pension funds have dropped Legal & General Investment Management, Merrill Lynch Investment Managers and SG Asset Management following an investment review.

UK - Insurance and consulting firm SBJ Group has acquired Miller Financial Services for an undisclosed sum.

UK - The £293bn (e430bn) Northern Trust Global Investments has been chosen by the trustees of the YMCA Pension and Life Assurance Plan to run a £26m equity and fixed income brief on a manager-of-managers basis.

UK - A new study of short-termism has found most UK pension schemes retain their managers for at least five years.

UK - No gain, no fee fund manager Bedlam Asset Management has outperformed both UK and global equity indices.

UK - The Associated British Ports Group Pension Scheme has revamped its investment manager roster following a review by its consultant, Hewitt Bacon & Woodrow.

UK - Oil and gas companies with strong corporate social responsibility policies have outperformed competitors by almost 40pc, a new report shows.