It's good to see that, after the bruising experience of the past couple of years, some of Europe’s biggest pension funds seem to be upping their investment game.

The move has been underway for some years, but if anything it is gathering pace. This week we reported that two of the largest funds - the £17bn Railways Pension Scheme in the UK and the €17bn Stichting Shell Pensioenfonds in the Netherlands - have taken steps to improve their operations in recent months.