Regions

EUROPE - New figures highlighting the damage caused by the sub prime crisis reveal that the tidal wave of redemptions from institutional and retail investors amounted to €70bn.

GERMANY - Growing demand from German multi-national companies eager to set up European pension vehicles to pool assets across countries has been thwarted by regulatory conditions, according to local asset managers and consultants.

INCLUDING: JAPAN - Mitsubishi drives into China; ITALY - Central bank wants to increase retirement age; JAPAN - New pension council set up

EUROPE - The European Commission's acceptance of proposed amendments to the portability directive has been criticised in some legal circles as a backward step.

INCLUDING: AUSTRALIA - Gabriel departs UniSuper; UK - Citizen advice fund deficit worsened; US - PBGC sorts hospital scheme

EUROPE - The European Commission has adopted an amended proposal to reduce obstacles to workers' mobility by improved access to and better preservation of supplementary pensions rights.

Including: UK - Hard life for 21st Century trustees; AUSTRALIA - Illiquid assets take risk appreciation; US - NYSTRS head to retire

GLOBAL - Emerging markets' ability to retain profitability through this summer's credit crunch may be partly due to their improved governance, according to industry commentators.

RUSSIA - Gas producer Gazprom said the revised accounting treatment of the non governmental pension fund, NPF Gazfund, had a significant impact on the group's financial information for the three months ended 31 March 2007.

EUROPE - Europe's asset management industry has experienced a year of successful growth but is struggling to control costs, according to the findings of McKinsey & Company's annual survey on the European asset management industry.