Europe

GLOBAL - UK-based consultant Hewitt Associates has launched a new service offering its global pension fund clients access to long term sustainability themes.

UK - The Financial Reporting Council has published the first Stewardship Code for institutional investors in a bid to improve their level of engagement with companies.

UK - One of British Airways' two pension schemes has insured £1.3bn (US$1.9bn) of pensioner liabilities in a buy-in deal with Rothesay Life.

EUROPE - Gartmore has joined the trend of hedge funds launching onshore portfolios for EU-based pensions, which face exclusion from offshore products under proposed EU regulation of the alternatives industry.

UK/IRELAND - Drinks manufacturer Diageo has announced a 10-year funding plan to plug its £862m (US$1.3bn) pension deficit.

NORWAY/ASIA - Norway's sovereign wealth fund, the world's second largest, will increase investments in Asia, as the region leads the global economic recovery, said Norges Bank Governor Svein Gjedrem.

UK - In his first print interview since being confirmed as pensions minister in the coalition government, Steve Webb talks to Tom Selby about the review of auto-enrolment, GMP equalisation and introducing a new Pensions Act.

CANADA/UK - A Canadian court has once again prevented UK-based The Pensions Regulator from issuing a warning notice to recover £2.1bn (US$3.1bn) from Nortel Networks in Canada.

UK/BELGIUM - The Pensions Regulator has issued a £5m (US$7.5m) contribution notice to the Bonas Group Pension Scheme.

UK - The BBC is set to close its final salary scheme to new members after its deficit surged to £2bn (US$3bn).