Austria’s €4.5bn VBV Pensionskasse intends to double its exposure to real estate by the end of the year.

Following recent market instability, Varma, the €28.7bn Finnish pension company, has significantly increased its bond holdings at the expense of equities and restructured its hedge fund portfolio. The fund has also made its first investments in commodities.

Almost 60 per cent of European pension fund investors intend to increase their allocation to private equity over the next six months, according to an epn survey.

Lærernes Pension, the DKr26bn (€3.5bn) Danish teachers’ pension fund, will increase its already significant investment in forestry by 50 per cent. The fund is also considering investing in forestry in eastern Europe.

Assogestioni, the Italian asset management association, has called for the creation of a second pillar pension fund designed specifically for younger people and smaller Italian companies.

Nordic investors care little about cost reduction and improving client service when it comes to their middle and back office operations and more about reducing operational risk, according to the findings of a Bank of New York Mellon white paper.

A report on fiduciary management claiming costs are excessive has been discredited by the industry.

The Italian ministry of labour has declared that Italy’s regulations on institutional investment are outdated and said the country should adopt a system similar to the Netherlands or the UK.