Europe

ITALY - Fondenergia, the Italian supplementary pension fund for the energy industry, has appointed seven managers which will manage the fund's e220m once its restructuring process is completed.

UK - Interest rates are unlikely to fall any further following the Bank of England's 25 basis point cut to 3.5%, fund managers believe.

UK - Isis Asset Management has been awarded an £125m fixed income mandate from the Rhondda Cynon Taf County Borough Council Pension Fund.

NORWAY - Ethical guidelines have been submitted to the Ministry of Finance by a specially appointed committee over how the e86.4bn Statens Petroleumsfond should invest.

UK - Alternative managers Man Investments and RMF have launched a joint fund-of-hedge funds product to give risk-adjusted returns.

UK - Goldman Sachs Asset Management is to manage the tactical asset allocation of Staffordshire County Council pension fund's £970m equity portfolio.

UK - Trustees have given a cautious welcome to new regulations that will allow schemes to bring member transfer values in line with available assets.

UK - Company performance has a direct correlation with shareholder activism, a new report concludes.

UK - The vast majority of active fund managers are failing their clients by benchmark hugging, Mercer Investment Consulting claims.

UK - Job losses throughout the life and pensions sector are being predicted following a spate of redundancies at Norwich Union.