Regions

SPAIN/EUROPE - Schemes will be able to reclaim withholding taxes from Spain after the country's government amended legislation on the tax treatment of dividends.

EUROPE - Reporting choices available to European banks under accounting rules can give investors a misleading view of the impact pension plans have on the banks' capital, a report by Moody's Investor Services revealed.

GLOBAL - Short selling activity by hedge funds has rotated out of equities, as a rally in lower quality companies over the past year has come to an end, and into corporate bonds as spreads have tightened.

US/ASIA - The sale of American International Group's (AIG) asset management and investment advisory group division, PineBridge Investments, to private equity firm Pacific Century Group (PCG) has been completed.

GLOBAL - Investors in hedge funds selling their stakes on secondary markets have turned a profit on their holding for the first time in 18 months, demonstrating growing investor interest in the asset class.

AUSTRALIA/CANADA - Australian pension reserve fund Future Fund has terminated discussions with the Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers' Pension Plan (OTPP) regarding their proposal to acquire Transurban Group.

GLOBAL - The world's richest economies must urgently work out how to put a lid on spiraling retirement costs to address the "acute" challenge of tackling high public debt, according to the International Monetary Fund (IMF).

EUROPE - Some 41% of pension scheme managers would consider de-risking through a buy-in or buyout in the next 12 months if market conditions are favourable, new research revealed.

ASIA - Mercer has restructured its Asian team to capture growth opportunities in the region.

EUROPE - The European asset management industry has called for the creation of a standardised pension product across Europe in order to boost personal savings.