Regions

EUROPE - The European exchange traded fund (ETF) industry will exceed US$200bn next year in spite of the economic downturn, Barclays Global Investors (BGI) says.

GLOBAL - Pooled fund of hedge funds (FoHFs) failed to achieve positive returns during the third quarter of this year, latest data from BNY Mellon Asset Servicing reveals.

GLOBAL - Credit Suisse has announced it will cut 5,300 jobs following an estimated preliminary net loss of CHF3bn (US$2.5bn) in the three months to the end of November.

Including: NETHERLANDS - PGGM appoints CFRO; CANADA - ACPM welcomes pensions review; CHILE - BNPP IP buys BancoEstado subsidiary

EUROPE - The European Commission consultation on possible changes to the Institutions for Occupational Retirement Provision (IORP) law should not lead to further harmonisation in the current climate, an industry body has warned.

GLOBAL - Outflows from Undertakings for Collective Investments in Transferable Securities (UCITS) shot up in the third quarter of 2008 to €92bn (US$116bn), latest figures show.

EUROPE - The European Commission has closed its consultation on extending Solvency II rules to occupational pension schemes.

EUROPE - The European Commission has taken steps against the UK to amend legislation which denies deductibility of pension contributions paid to funds established outside Britain.

GLOBAL - Hermes has endorsed the Bank of Brazil pension fund's (PREVI) Guide to Shareholders' Participation in Shareholder Meetings.

INCLUDING: NORWAY - Norges Bank won't purchase foreign exchange; UK - North Yorkshire appoints ING; UK - BRAL appoints Mercer