- LCP has revealed that the average defined benefit (DB) pension scheme performed positively in May, as markets experienced a 'notable recovery'.

The funding level of LCP’s sample DB scheme rose to 104 per cent in May, with assets increasing by more than the liabilities. In addition to this, both the high-risk and medium-risk sample defined contribution (DC) schemes delivered positive returns. However, the pension purchase strategy experienced a decrease of 1 per cent. Globally, equities rose by 5.7 per cent (in local currency terms) in May, with the Eurozone rising by 6.1 per cent and North America rising by 6.5 per cent over the month, as LCP said they had returned to levels seen before the tariff-related sell-off. It added that European markets saw a rebound due to easing trade tensions, along with rising US fiscal concerns that prompted investors to continue a shift away from American assets. Meanwhile, annuity prices experienced no change over the month.

- Sweden's Polhem Infra has secured a deal with a renewable energy company based in Finland.

This latest agreement, sealed on 3 June, will see Polhem Infra acquire 49 per cent of Pori Energia, which offers renewable and sustainable energy solutions in the Pori area. The investment marks Polhem Infra's first venture in Finland. A new board of directors was appointed after its completion, and cooperation with the municipality will begin immediately. The firm said the deal marked an "important milestone" and proved that Polhem Infra has a given role in collaboration with Nordic municipalities. Polhem Infra generates returns to Sweden’s national income pension system by investing in and managing critical infrastructure in the Nordic countries.

- An update from Iceland's Frjálsi pension fund annual meeting has confirmed that proposals for amendments to the fund's articles of association were submitted and approved.

At the meeting, the board's report was presented, along with the fund's annual accounts, the results of the actuarial assessment and the investment policy. Four amendments were proposed – two to the disability pension, and two to pension payment arrangements. The first two related to increased rights for those collecting a disability pension, while the others proposed that companies would be permitted to transfer specified, restricted and free private assets to other pension savings custodians, and that supplementary pension savings agreements could be terminated with two months' notice. The fund's annual meeting also included proposals for board remuneration and the auditor, which were also submitted and approved.

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