Europe

UK - Pension schemes are being urged to ensure their fund managers have put in protective claims with HMRC for the recovery of VAT potentially "erroneously" overcharged over the last four years.

EUROPE - Scepticism some European allocators feel about the ability of ‘absolute return' funds to achieve their aims has been vindicated so far this month as almost eight in every 10 European funds in the sector lost money in the volatile first three...

EUROPE - The European Federation for Retirement Provision (EFRP) has appointed Matti Leppälä to succeed Chris Verhaegen as secretary general.

NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.

DENMARK - Danish pension provider ATP recorded a profit of DKK8.1bn ($1.6bn) in the first six months of 2011 driven by high returns in commodities and inflation-related assets.

UK - The Debt Management Office is considering launching index-linked gilts with a maturity of 50 years in October after the idea of a new batch of ultra-long bonds was proposed to investors.

NORWAY - The Ministry of Finance has confirmed that Martin Skancke has resigned his position as head of the department overseeing the Government Pension Fund Global.

EUROPE - EU rules on the establishment of cross border pensions must be simplified, Aon Hewitt believes.

How a 'bigger and better' IORP directive could pan out

UK - Kent County Council has come under fire from campaign groups for investing £24m ($39m) of its pension fund portfolio in tobacco companies.