FT Alphaville " FTfm on AV Some highlights from Monday's FTfm. Most fund managers "inefficient" An Investit report has found that a survey of managers representing £4tn in assets under management reported 38% spare capacity and that they needed more AUM to become efficient Funds in France may get €4bn tax rebate Funds with investments in France may be entitled to a tax rebate of up to €4.2bn, depending on a ruling from the European Court of Justice due on Thursday. Currently non-French investment funds are subject to a withholding tax on dividends and interest from which French funds are exempt. If the ECJ rules this is unjustified discrimination, any fund anywhere in the world that has received dividends on French investments may be due a rebate "Bric" is no longer useful grouping for investors The shine seems to be coming off the Bric concept as funds investing in the four countries have seen significant outflows in recent months. In the past six months, investors have taken $581.4m (net) out of Bric equity funds, compared with inflows of $12.5bn to all emerging market equity funds A call to fix hedge fund governance Poor hedge fund governance is as much of a threat to institutional investors as their high fees and their failure to perform, writes John Plender China's pension sector set to "balloon" Z-Ben Advisors forecasts that assets under management in China's pension system will "balloon" from Rmb7.4tn ($1.2tn) at the end of 2012 to Rmb28tn by 2020 and that oppportunities for foreign managers will come from each of the three broad strands of the industry: the NSSF which underwrites state pension promises, enterprise annuities and the insurance industry Familiar echoes in shale gas boom There is nothing wrong with exploration and production people being compulsive optimists and, it follows, compulsive drillers of prospects for which they do not have quite enough money. In fact, it is absolutely necessary to get the production we need. What is wrong is how this has been paid for, writes John Dizard CEE governments erode occupational pensions The best pensions set up by governments in central and eastern Europe have been raided by their governments leaving savers and providers alike disillusioned This entry was posted by Emma Boyde on Sunday, May 6th, 2012 at 18:28 and is filed under Uncategorised.