Europe

The austerity measures that swept through Europe in 2010 took their toll on pension systems. Richard Lowe reports

UK - Trustees of defined benefit schemes saw an average return of 13% on investments last year due to strong equity performance, according to research.

UK - Trustees of the AT Kearney Pension & Life Assurance Scheme have appointed Gatemore Capital Management to act as its dedicated chief investment officer.

UK - Mn Services has won a £450m ($702m) fiduciary management mandate from the Delphi defined benefit pension schemes in the UK.

LUXEMBOURG - The Association of the Luxembourg Fund Industry (ALFI) has joined the European Federation for Retirement Provision (EFRP) as a full member.

UK - Deficits at defined benefit pension schemes fell by up to 51% in 2010, but schemes still have some way to go to reach the funding levels of 2008, figures show.

UK - John Moret, marketing director at Suffolk Life, is to retire after 40 years in the industry and almost 20 "banging the SIPP drum".

UK - A family-owned hedge fund will offer investors the chance to use Twitter posts to gauge the mood of the stockmarket.

TURKEY - Anadolu Hayat Emeklilik AS, Turkey's biggest manager of pension funds, has started buying the first lira- denominated bonds ever sold by local banks to benefit from higher returns than are available on government debt.

EUROPE/US - Swiss Re has transferred $50m of longevity trend risk to the capital markets.